8 December 2022 - acquisition
The AIM-listed automotive retailer has announced the acquisition of Helston Garages Group Limited. The deal implies an enterprise value of £120.1m. In the year ended 31 December 2021 the acquired dealerships generated revenues of £498.9m, an underlying EBITDA of £20.6m and underlying pre-tax profit of £17.9m. It provides a huge boost to the company's presence in the South West of England with 28 additional franchised sales outlets. It also adds premium OEM relationships, with Vertu now working with Ferrari and Volvo. The acquisition is expected to be earnings accretive . . .
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