Hillendale dealerships bought in £8m deal
Lawyers at Napthens have advised the shareholders of the Hillendale Group on its sale to Vertu Motors plc, the sixth largest automotive retailer in the UK.Hillendale, owned by managing director Lee Collins, is one of the country’s top performing Land Rover dealerships. It employs over 40 people and operates a Land Rover dealership and Jaguar repair centre in Nelson and a Jaguar dealership and repair centre in Bolton.
Vertu Motors, based in Newcastle, will pay £6m in cash and issue 3.4 million shares worth £2m to the vendor, who has undertaken not to sell for 12 months.Founded in 2006, Vertu Motors is listed on the Alternative Investment Market of the London Stock Exchange and operates a nationwide chain of franchised motor dealerships.
Corporate partner Keith Melling led the team who advised the shareholders . He was assisted by Claire Hynes, Richard Robinson, Dan Boulton and Charlotte Nuttall.Keith said: "Having acted for Lee and his team on the original management buy out of the Hillendale Group, I’m delighted to have worked with him on realising the fruits of his efforts over the last 17 years. Lee has worked tremendously hard to make the business such a success - it is consistently recognised for its levels of customer satisfaction for both Land Rover and Jaguar marques at a national level.” Vertu Motors was advised by a team from Newcastle-based law firm Bond Dickinson.