Pinsent Masons advises on Pentagon acquisition
17 Aug 2017 | 12:01 pm |
International law firm Pinsent Masons has advised Imperial Commercials SA on the multimillion pound acquisition of Pentagon Motor Holdings and all its subsidiary companies from its founders.
South Africa-listed Imperial employs over 51,000 people and generates annual revenues in excess of R120 billion across Africa and Europe.
Pentagon is a car dealership group operating from 21 locations in Derbyshire, Nottinghamshire, Lincolnshire, Yorkshire and Greater Manchester. They hold a wide range of franchises for many leading passenger car brands, with annual turnover just short of £500m headcount of over 1200 people.
The deal was led by Corporate Partner Andrew Hornigold with support from Fiona Kindness (Senior Associate) and Kiren Matharu (Solicitor) on corporate matters and John Edwards (Senior Associate) on property matters.
Andrew Hornigold says:
“We have acted for Imperial on a series of acquisitions of truck and van businesses as they have pursued a buy and build strategy over the last 5 years but this is their first car dealership purchase. Our knowledge of the business and the automotive sector expertise has been a real asset for this transaction. This acquisition reinforces the commitment of Imperial Holdings to continuing to invest in and develop their UK dealership portfolio.”
The deal continues Pinsent Masons strong run in the automotive sector, where it recently advised Motorpoint on its admission to the London Main Market in May 2016.
Pentagon was advised by Brabners on legal matters and Hacker Young were corporate finance advisers.
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