North East motor retailer Vertu says its biggest acquisition to date has boosted cash generation, just two months after the deal.
The Team Valley used and new car dealership business snapped up premium car company Helston Garages Group last December, a £499m turnover family firm which has added 27 sales outlets to Vertu including the likes of Ferrari and Volvo. Vertu said the Helston integration is well on track and that it continues to assess further growth opportunities, applying strict investment return metrics to seek out solid additions.
Since December 2021 the company has added 37 outlets to the group, taking the group’s total to 191 sales and aftersales outlets the under the Bristol Street Motors, Vertu Motors and Macklin Motors banners, and in a trading update for the five months ended January, CEO Robert Forrester has signalled improvements in the new car market, which has been severely hampered by supply issues.
