Rcapital, the London based private investor, has funded its portfolio company City Motor Holdings in the acquisition of the Marshall Roebuck Peugeot car dealership in Newbury. The site, now known as City Peugeot, joins the City Motor Holdings existing portfolio of 11 dealerships in Basingstoke, Newbury and Reading.
The acquisition marks the latest phase of expansion plans for City Motor Holdings with further growth planned over the next 18 months. The City Peugeot site is located adjacent to Gowrings Ford, one of three Ford dealerships in the group. City Motor Holdings now employs 310 staff across 12 dealerships which include Ford, Peugeot, Citroen, Honda, SEAT and Skoda dealerships. The combined operation sells in excess of 12,000 vehicles each year, generating £130 million in turnover.
Steve Hemlock, Managing Director of City Motor Holdings commented:
“The acquisition of the former Marshall Roebuck dealership was an ideal opportunity to build on our plans to develop three multi-franchise sites in Basingstoke, Newbury and Reading. We have further plans to redevelop our existing sites as well as open new dealerships throughout 2014 and 2015.”
Rcapital is a private investment business that provides turnaround and growth funding to UK companies. Started 10 years ago by Jamie Constable and Peter Ward, Rcapital uses its own capital to rescue, invest and grow stressed and distressed businesses. Since its inception in 2004, Rcapital has revived over 40 businesses with significant financial and operational challenges. The Rcapital team has a unique skill set in reversing the fortunes of small and medium sized firms by financially restructuring the business, forming strong partnerships with management and rebuilding operations. Rcapital focuses on SME businesses with turnover of between £5m and £200m.