Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
UHY Hacker Young Manchester and its specialist automotive team have advised Arden Group, which operates BMW, Mini and Motorrad dealerships in Kent, on its sale to US-based dealer group Lithia and Driveway.
The acquisition is likely to add more than £170m annual sales to Jardine’s turnover and forecast EBITDA of £7m.
On 1 September 2023, Lithia and Driveway announced the acquisition of the Arden businesses representing BMW, MINI and Motorrad in Maidstone and Tunbridge Wells. These businesses will join the existing Jardine Motors Group led by Neil Williamson, regional president over the United Kingdom.
Jardine Motors Group currently represents 14 premium and luxury brands including Aston Martin, Audi, BMW, Ferrari, Ineos, Jaguar, Land Rover, Maserati, McLaren, Mercedes-Benz, MINI, Pininfarina, Porsche and Smart.
The deal was managed by David Kendrick and his automotive team at UHY Hacker Young who represented Arden Group.
Kendrick said: “The acquisition of Arden makes complete sense for Jardine as it compliments their portfolio as well as expanding their relationship with BMW and Mini significantly. Ross and his team at Arden have built a leading business with strong profitability that will no doubt continue under its new group ownership.”
Neil Williamson, regional president, United Kingdom, added: “Following LAD’s entrance into the UK with the Jardine Motors Group earlier this year, we have always stated our desire to grow.
“Bringing the teams from both Maidstone and Tunbridge Wells together with our existing BMW & MINI businesses in Bury and Milton Keynes further strengthens our ability to serve customers with these exciting brands. Our collective efforts will help deliver on our aspirations across the UK and support our mission of growth powered by people.”
