Law firm Womble Bond Dickinson (WBD) has advised Vertu Motors plc, an automotive retailer in the UK, on its c£18.7m acquisition of BMW, MINI and Motorrad dealerships in Durham, Malton, Sunderland, Teesside and York from Inchcape.
The acquisition expands the group into a new division, adding BMW and MINI to its existing offering.
WBD’s transaction team was led by corporate partner Ben Butler and managing associate Stacey Hall, supported by Liz Evans and David Ridley. Banking partner John Connor and Viktor Osasu also advised Vertu on the new facility provided by BMW Financial Services. WBD’s corporate team have worked with Vertu since 2012, having advised on over 20 transactions during that time.
Ben Butler of WBD commented: “It’s great to continue to support Vertu on its growth strategy. It’s a privilege to work alongside the strong management team and see them bring BMW and MINI into the group. Vertu are a fantastic success story in the North East, having taken their business from a standing start less than 15 years ago to now boast turnover in excess of £3bn. Their acquisition strategy has been a key part of the growth story and it has been an honour to play our part in this.”
Nicola Loose, General Counsel at Vertu, added: “We are delighted to have completed this latest acquisition. Once again, WBD provided us with excellent service, delivering commercial and pragmatic advice to ensure the successful and timely completion of the transaction. The WBD team complement our in-house skills perfectly and are always there to offer their expertise to ensure we continue to deliver on our growth ambitions.”