Castleford based car dealership transitions to employee ownership

The company’s previous owner Peter Ambrose established the business in 1999, which now sells on average 1,300 vehicles each year with an annual turnover of around £25m.Mr Ambrose said: “I originally bought the company from Peugeot 22 years ago under a management buyout scheme so it feels like we’re coming full circle as the employees will have a similar opportunity to further grow the business for the benefit of our customers as well as current and future staff.”

"We’ve always put our people at the heart of our operations so this option felt like a natural transition as the business will remain in the hands of those who have made it what it is.”Jane Parry and Jonathan Cunningham of PM+M provided tax and transaction advice in the deal. Muckle LLP partner Adam Rayner led on the legal aspects of the deal, supported by Julie Garbutt and Hayden Richards.

Brabners provided additional legal advice for the Trustees, whilst Tony Tinker of TT Business Services Ltd delivered accounting support.