Waters Retail Acquires Kia & SEAT in Tunbridge Wells
22/07/2010
ASE's Dealermatch service is pleased to announce that Waters Retail Group has acquired the trade and assets of Tunbridge Wells Kia and SEAT from Humphries & Parks Limited for an undisclosed sum. Humphries & Parks have retained their Mitsubishi business in West Malling.
Waters Retail, which trades as AutoPlanet in Kent & Hampshire, now operates 14 franchise points across 9 sites and was itself created 12 months ago via an MBO transaction.
Waters CEO, Darren Payne said:
"We are extremely pleased with the acquisition as it fits our strategy and also is our first venture with the SEAT brand and VW Group. We are doubly pleased to now partner Kia in 3 locations. We look forward to welcoming our new colleagues at the Tunbridge Wells dealership."
David Kendrick, Transaction Manager at ASE said:
"Yet again we see another group purchasing a going concern from a smaller business as the consolidation in the sector continues. Humphries & Parks will continue to operate their successful Mitsubishi business in West Malling, with the Tunbridge Wells interest being sold to Waters Retail Group."
19 July 2010
For more information regarding this press release, please contact:
David Kendrick, ASE, Tel: 0161 493 1930