Member Article

Archers drives forward car dealership?s re-financing deal

A law firm has completed a major re-financing deal for one of the North East’s largest car dealerships.

Stockton based Archers Law advised S. G. Petch on switching all of its banking and financing arrangements, completing the work under a very tight timescale.

The deal allows S. G. Petch to continue to grow its portfolio of dealerships in Darlington, Middlesbrough, Durham, Richmond and York.

David Adams, an Associate who specialises in corporate and commercial deals at Archers Law, said: “This was a very complex and high value re-financing deal with a degree of risk. There were a wide range of parties involved on both sides and by working together we were able to successfully complete what were complicated financial arrangements on behalf of our client.”

S. G. Petch, which was founded in 1977, sells new and used vehicles for several of the world’s leading manufacturers including Nissan, Hyundai, Peugeot, Seat and Fiat. The business employs more than 200 people and has an annual turnover in excess of £115million.

Simon Rees, Financial Director at S. G. Petch, said: “Changing all of our banking and financial arrangements was a decision we did not enter into lightly. It was a complicated process but Archers Law was able to come in quickly to take away a lot of the pain and hassle from us.

“The Archers’ team and David in particular did a fantastic job and we look forward to working with them again in the future.”

Mr Adams added: “S. G. Petch is a well-known and successful regional business. We were quickly able to establish a very good working relationship with the team and were delighted to be asked to work on this significant contract.

“I’m sure it is a relationship that will continue to grow as both of our businesses prosper.”

This was posted in Bdaily's Members' News section by Publicity Seekers PR .