Member Article

Hendy acquisition of Lifestyle named Large Deal of the Year

Hendy’s purchase of the Lifestyle Group in 2016 has been named Large Deal of the Year in the prestigious Solent Deals Awards.

The acquisition last year created a group with more than 1,000 employees operating 12 motor franchises at 25 locations selling in excess of 40,000 cars, vans and trucks.

The deal placed Hendy in the top 25 dealership groups in the UK and gave it an annual turnover of some £600 million.

Chief executive Paul Hendy said he was delighted the deal had received this accolade from the region’s professional community and judging panel, which awarded the honour in the category for deals in excess of £50 million.

“We believe the deal was transformational for the company and it is gratifying to see that it has been considered worthy of such an award,” said Paul.

“It was the result of a significant effort from all involved, and we worked hard with a number of our partners, including HSBC, BDO, Lambert Smith Hampton and Irwin Mitchell in Southampton to deliver this. The focus for our business was to construct a deal which created a strong platform for further growth in the future and this accolade reinforces this belief.“P

A spokesperson at the Southampton office of national law firm Irwin Mitchell, said the takeover had been a significant transaction for the region and continues the current trend for consolidation within the motor trade industry.

The Hendy team was presented with the award at a glittering ceremony in Hampshire this week.

This was posted in Bdaily's Members' News section by Hendy Group .