RSM Tenon has assisted Leicestershire-based entrepreneur Robin
Francis in the sale of the motor group he founded 17 years ago.
The accountancy and business advice specialists advised Robin on
the structural and taxation aspects of a transaction that will see
the Francis Motor Group being acquired by the Cambridge-based
Marshall Motor Group.
Chris Darlington, managing director of the Leicester office of
RSM Tenon commented: "The management team at the Francis Motor
Group should be proud of what they have achieved during the last 17
years, in building a substantial local business based on
reliability, trust and customer care.
"They leave the operation in robust health, giving the new
owners a strong platform from which to further develop the
offering.
"This deal is further evidence of the inevitable consolidation
seen within the motor industry in the recent past and reflects a
trend that is set to continue in the foreseeable future."
The Francis Motor Group, which specialises in new and used cars
and has outlets in Narborough, Mountsorrel and Leicester, is on
track to record a healthy profit this financial year.
RSM Tenon has advised the dealership across a range of services
- which have helped it towards recording a £38.5m turnover
for this financial year.
One of the top Honda and Seat dealers in the country, in the
financial year to date the Group has sold in excess of 2,000 new
Honda, Suzuki and Seat cars and around 1,800 used cars.
Robin Francis, who has been in the industry for almost 49 years
and founded the Francis Motor Group in 1994, says that the success
is not just down to the Government's scrappage scheme.
He adds that it's also the result of the experience his company
has crafted for its customers, its employee care and development
and sound financial advice received from advisors such as Leicester
based RSM Tenon.
"We still have old fashioned values, which means putting people
first - customers, employees and our partners that work with us to
make the business a success," explains Robin, who has decided to
retire.
"The advice that we have received from RSM Tenon both in the
past and as part of the transaction has been vital to securing
positive outcomes for both myself as an individual but also for the
group itself."