Logistics and mobility group Imperial says its vehicle division, Motus, has acquired UK firm Pentagon Motor for R493 million (£28 million).
Headquartered in Derbyshire, Pentagon operates 21 prime retail dealerships in Derbyshire, Nottinghamshire, Lincolnshire, Yorkshire and greater Manchester.
In the year to 31 December 2016, Pentagon generated revenue of £495 million (R8.715 billion).
Mark Lamberti, Group CEO of Imperial said: “Imperial has strong global partnerships with leading vehicle manufacturers and we are delighted to expand our international retail footprint into the passenger and light commercial vehicle market in the UK through the acquisition of Pentagon by Motus.”
Pentagon, established in 1991 by its current chairman Trevor Reeve, has grown steadily from an initial Vauxhall franchise base to represent leading car and van manufacturers Peugeot, Seat, Mazda,
Kia, Renault, Fiat, Alfa Romeo, Nissan, Mitsubishi and Jeep.
The Group employs 1,262 people, 46% of whom have been with the business for 5 years or more. Key management will remain with the business through a transitional period to ensure a smooth integration with Imperial’s existing vehicle businesses in the UK.
The business will continue to operate as Pentagon Motor Holdings.
Osman Arbee, CEO of Motus said the acquisition is consistent with the company’s strategy to deploy capital and its vehicle retail expertise in pursuit of growth and returns beyond
The transaction is effective from 1 September 2017.