Cambridge based automotive group Marshall Motor Holdings has achieved expansion through the £24.4m acquisition of SG Smith.
SG Smith, a family owned business, has trading locations across Kent, Surrey and London. Its brand partners include Audi in Wimbledon, Coulson, Bexley and Beckenham, Skoda in Croydon and Mercedes Benz in Croydon.
The deal was finalised through Robert Smith, the son of the founder of SGS as well as the company’s managing director.
“After over 70 years, it was important to our family to find a good home for our business and our people,” said Smith. “The acquisition brings together two long standing organisations with a rich history in automotive retail. I would like to thank the entire SGS team and wish them well with Marshall Motors over the coming years.”
According to Marshall, the deal will not only strengthen their links with brand partners such as Audi, but will allow them to move into “new and attractive geographic territories.”
“We are delighted to have acquired this long established, family run business and I am particularly pleased to welcome our new colleagues to the group,” said Marshall Motor Holdings Chief Executive, Daksh Gupta.
“The acquisition is in line with our stated strategy to grow scale with existing brand partners and expand our geographic footprint. The business is a good cultural fit for the group and we are delighted to be significantly growing our relationship with Audi, strengthening our Skoda representation and extending our partnership with Mercedes Benz in commercial vehicles.”