hlw Keeble Hawson has acted for Chesterfield-based GK Group Ltd, which has been acquired by Perrys Group.
George and David Kenning, the principal shareholders of GK Group – which has a turnover of around £175m and employs 400 people – are retiring following the sale.
GK Group’s managing director, Paul Rogers, is joining the team at Perrys which operates 53 dealerships across England.
George Kenning said: “Perrys are a strong, highly successful, privately owned business with a reputation for excellence. We are delighted that this sale offers our staff enhanced security and better opportunities for the development of their future careers.”
Perry’s group chairman Ken Savage commented: “We are very happy to announce the acquisition which extends our relationship with Ford, Mazda and Kia.
The addition of GK Group will make a great fit for Perrys with our new dealerships located just south of our existing sites in Yorkshire.
The group’s ongoing success can be credited to its commitment to the core values of customer care, high-quality vehicles and staff retention. I am sure everybody will welcome the GK staff into Perrys and make them feel part of the team.”
hlw Keeble Hawson partners Chris Wilson, and Alaric Birch, led the firms’ corporate and real estate teams respectively on the deal.
Alaric Birch added: “GK Group, a long standing client of hlw Keeble Hawson, has built a strong reputation as one of the longest established dealer groups in the region and we wish Paul Rogers and team continued success as Perrys Group continues to go from strength to strength as a leading player in its field.”
The deal was brokered by UHY Automotive Partner, David Kendrick who represented GK Group and Hewitsons Solicitors represented Perrys Group.
David Browne, Corporate Partner of Hewitsons Solicitors, who led the acquisition on behalf of Perry’s, said: “Perrys are a very valued client of Hewitsons and we are proud of the established relationship we have with them.
“This deal is a prime example of the work of our multi-disciplinary Corporate Group which draws on the considerable expertise and experience of fee–earners from across a spectrum of different practice areas, all working together to provide pragmatic commercial advice to successfully achieve the purchase of GK Group for Perrys Group.
“We wish the management team at Perrys well as they embark on this exciting new chapter in the Company’s development”.
David Kendrick, partner, UHY Automotive, commented: “GK Group is one of the oldest Ford dealer groups in the country and has a very strong reputation. We are delighted to have assisted the shareholders with their exit and I have no doubt that the acquisition will add significant value to Perrys group moving forward.”