Pictured above: (l-r) Ran Oren, partner and head of
corporate at Flint Bishop; Gary Siddall and John Oldfield,
directors of Beechdale Motor Group; Stuart Peck, tax partner at
Smith Cooper
Two childhood friends from Derbyshire have completed the buy-out
of one of the East Midlands' most prominent family-owned Motor
Groups.
John Oldfield and Gary Siddall completed the deal to take
ownership of Beechdale Motor Group after the retirement of Les
Waterfall, who founded the company along with Mike Wood in
September 1982.
John, who was already a director and shareholder, now holds a
majority stake in the company, with Gary taking part ownership of
the group, which is based at the Parker Centre on Mansfield Road in
Derby.
The deal was completed by a team led by tax partner Stuart Peck
and business services director David Nelson from the Derby office
of Midlands accountants and business advisors Smith Cooper. Ran
Oren, partner and head of corporate at Derby law firm Flint Bishop,
advised Beechdale and its new owners.
John and Gary have been friends for more than 30 years and have
worked together for almost two decades. John joined Beechdale in
1988 and became general manager before being appointed director in
2006. Gary joined the company in 1991.
The group now sells around 700 cars a year and is the main
dealer for Alfa Romeo, Hyundai, Isuzu and SsangYong. It also sells
a range of quality used cars.
Commenting on the deal, director John Oldfield said:
"We are delighted to have completed the buy out from Les and
would like to wish him all the best for his retirement.
"Over the years Beechdale Motors have established a reputation
as one of the leading family owner dealerships in the Midlands and
we look forward to developing the business still further in the
coming years."
Ran Oren, partner and head of corporate at Flint Bishop
said:
"The deal has enabled a smooth transition of the business to the
new owners, who have a vast amount of experience in the retail
motor industry and exciting plans for the future.
"Succession planning remains important in this climate and
continues to deliver value for sellers and opportunities for their
successors.
Stuart Peck, tax partner at Smith Cooper added:
"Despite the prevailing economic conditions, it is great to see
that the Beechdale Motor Group has maintained its position as one
of the last remaining independently owned motor dealerships in the
region following its change in ownership structure.
"We look forward to a successful working relationship with John,
Gary and the wider Beechdale team."
Beechdale Motor Group Ltd was founded in 1982 and now operates
from the Parker Centre on Mansfield Road in Derby.
For more information about Flint Bishop, please visit their
website: www.flintbishop.co.uk