Turner Parkinson Growth Drive Continues

Manchester business law firm Turner Parkinson has completed another deal in an active calendar year, advising Bolton based Ford dealership Gordons, who have been acquired by AIM listed Vertu Motors.  

The team, led by Andrew Sturge and assisted by Robin Hastings and Matthew Flanagan, is another milestone in the firm’s busy calendar which has seen Turner Parkinson shortlisted for Firm of the Year at North West Business Insiders Dealmakers Dinner.  This latest deal completion sees the team well on their way to beating last year’s record breaking deal completion figures.

Vertu Motors is paying £11m in cash for the assets which include freehold properties worth nearly £7m.

Commenting on the deal Andrew Sturge, Corporate Partner said “the acquisition of this established and respected business represents an excellent opportunity for Vertu to grow the Bristol Street brand in the North West.  We were delighted to work alongside Gordons and our ability to get the deal done came to the fore.  The team were able to focus on enhancing shareholder value for all concerned”.  

Gordons, owned by the Seymour family, has been representing Ford in Lancashire since 1911 and now has 218 staff.  The business started out by making horse drawn carriages.

The Vertu deal includes two main dealerships in Bolton and Wigan and two satellite operations in Walkden, Salford, and Horwich, near Bolton.  There is also a plot in Wigan where a new dealership will be developed in the next six months.

Robert Forrester, chief executive of Gateshead based Vertu, said: "The board is delighted to announce the acquisition of this well established business in Lancashire, which will provide further scale to the group's Bristol Street Motors Ford business”.