Yorkshire-focused AM100 supplier group DM Keith has acquired automotive and motorbike supplier group Colin Appleyard, including 4 Suzuki dealerships at Bradford, Keighley, Huddersfield and Ashton-Below-Lyne.
Colin Appleyard is without doubt one of the longest-serving Suzuki franchisees within the nation, and has been run since 2010 by the founder’s son, Robin Appleyard. Its newest accounts present annual revenues of £48 million and three.1% return on gross sales, and it additionally has two Subaru franchises however lately ended its illustration of Nissan.
Robin Appleyard mentioned: “The enterprise has been an enormous a part of our household all my life and I’ve loved each minute and labored with some incredible individuals. Each my sons have profitable careers of their very own, so with no succession and seeing the continued consolidation the time was proper for me to step again.
“We’re delighted to have agreed a cope with DM Keith who maintain many related values to us as a enterprise. I’d wish to thank the Colin Appleyard crew and Suzuki who’ve all the time been nice to work alongside and am assured they’ll proceed to be very profitable. I want Dougal, Angus and the crew all the very best sooner or later.”
DM Keith is one other family-owned motor retailer, headed by managing director Dougal Keith and his brother Angus. As soon as targeted on promoting Skodas, DM Keith has expanded throughout the final 10 years to additionally symbolize Seat, Honda, Ford, Kia and new Chinese language entrant BYD.
Its most up-to-date acquisition was Ringways in 2021. Within the newest AM100 itemizing DM Keith was in 67th place witrh £248m turnover, and the addition of Appleyard means the group expects 2024 revenues of round £300m, which might put it close to the center of the AM100.
Dougal Keith, Managing Director of DM Keith mentioned: “We now have been rising steadily over the previous couple of years as a part of our imaginative and prescient of being within the prime 50 motor teams. Now with the Ringways acquisition now properly bedded in, the acquisition of Colin Appleyard comes at an ideal time, permitting us to develop additional throughout the territory and provides us a scaled entry level with Suzuki.
“My senior management crew and I’ve been contemplating different manufacturers for a while now and Suzuki has been one now we have severely thought-about having seen its success and progress. We’re very excited concerning the future and sit up for welcoming the Colin Appleyard crew into the DM Keith Group.”
The deal was managed by David Kendrick and his automotive crew at UHY Hacker Younger who represented Colin Appleyard with the sale. Kendrick mentioned: “Colin Appleyard is without doubt one of the most profitable and largest Suzuki supplier teams within the UK. They’ve an incredible model and fame, and it makes absolute sense for DM Keith so as to add this enterprise to their rising portfolio. I’ve little doubt the enterprise will proceed to develop and flourish as a part of an even bigger group in addition to giving Robin and the shareholders a well-earned retirement.
“It definitely gained’t be the final deal of the yr, by no means have I seen a lot exercise in my 20 years of automotive M&A.”
The sellers have been legally represented by Steven Millward of Schofield Sweeney.
