Marshall Motor Holdings plc’s Acquisition Of Motorline Group

In UK Thomson Snell & Passmore, advised on the matter.

Thomson Snell & Passmore advised Motorline Group with a team including Joanne Gallagher (Picture – Corporate M&A), Alex Lewsley (Real Estate), Joanne Wright (Real Estate).

Motorline Group (Motorline) has been sold to Marshall Motor Holdings plc (Marshall), in a multi-disciplinary and complex M&A transaction which involved the acquisition of the entire share capital of Motorline for a cash consideration of £64.5million. Marshall has also separately acquired a related freehold property for £2.9million and has the option to acquire two additional strategic freehold properties in the future for £24.9million.

Founded in 1972, Motorline is a leading multi-franchise dealer group currently headquartered in Canterbury and operating across Kent, West Sussex, Surrey, Berkshire, Bristol, South Wales and the West Midlands. It represents nine brands through 48 operating franchises including Toyota, Lexus, Hyundai, Volkswagen, Audi, ŠKODA, Nissan, Peugeot, and Maserati. In addition, it operates four Volkswagen Group Trade Parts Specialist (TPS) businesses and five used car centres.

Motorline’s consolidated revenues for the year ending 31 December 2020 were £695.2million with profit before tax of £6.1million (which included a one-off profit on the disposal of freehold property and other one-off items of in aggregate c£4.0million). Motorline’s consolidated shareholder funds at completion are c£30million.

Marshall is one of the UK’s leading automotive retail groups. Following the acquisition its businesses have a total of 164 franchises covering 27 brands across 37 counties in England and Wales. Its acquisition of Motorline is in line with its strategy, which includes growing scale with its chosen brand partners. Marshall’s annual revenues are expected to exceed £3billion.

Joanne Gallagher (Picture), Partner and Head of the Corporate team at Thomson Snell & Passmore, and her colleague Joanne Wright, a Partner in the Commercial Property team, jointly led on the sale for Motorline. They were supported by Faye Cook, Georgia Jeffery and Rachel Macmillan in the Corporate team and Richard Ellard, Joanna Wooller and Alex Lewsley in the Commercial Property team, amongst others.

Due to the nature of the transaction, the deal necessitated a wider project team which included Katya Batchelor advising on Banking and Finance matters, Ben Stepney on Employment, Nitzan Cohen advising on Tax, Poh-Leng Devare on Commercial matters, and Mathew Boyle on Pensions.

 

Involved fees earner: Faye Cook – Thomson Snell & Passmore; Richard Ellard – Thomson Snell & Passmore; Joanne Gallagher – Thomson Snell & Passmore; Georgia Jeffery – Thomson Snell & Passmore; Alex Lewsley – Thomson Snell & Passmore; Rachel Macmillan – Thomson Snell & Passmore; Joanna Wooller – Thomson Snell & Passmore; Joanne Wright – Thomson Snell & Passmore;

Law Firms: Thomson Snell & Passmore;

Clients: Motorline Group ;

Author: Giulia Di Palma