Hewitsons has acted for Northampton-based Perrys Group in their acquisition of Chesterfield-based GK Group Ltd.
Hewitsons has acted for Northampton-based Perrys Group in their acquisition of Chesterfield-based GK Group Ltd. This transaction marks the largest acquisition for Perrys since a management buyout in 2001. George and David Kenning, the principal shareholders of GK Group - which has a turnover of around £175m and employs 400 people - are retiring following the sale and GK Group’s managing director, Paul Rogers, is joining the team at Perrys which operates 53 dealerships across England. George Kenning said: "Perrys are a strong, highly successful, privately owned business with a reputation for excellence. We are delighted that this sale offers our staff enhanced security and better opportunities for the development of their future careers." Perry’s group chairman Ken Savage commented: "We are very happy to announce the acquisition which extends our relationship with Ford, Mazda and Kia. The addition of GK Group will make a great fit for Perrys with our new dealerships located just south of our existing sites in Yorkshire. The group’s ongoing success can be credited to its commitment to the core values of customer care, high-quality vehicles and staff retention. I am sure everybody will welcome the GK staff into Perrys and make them feel part of the team." David Browne, Corporate Partner of Hewitsons Solicitors, who led the acquisition on behalf of Perry’s, said: "Perrys are a highly valued client of Hewitsons and we are proud of the established relationship we have with them. This deal is a prime example of the work of our multi-disciplinary Corporate Group which draws on the considerable expertise and experience of fee–earners from across a spectrum of different practice areas, all working together to provide pragmatic commercial advice to successfully achieve the purchase of GK Group for Perrys Group. We wish the management team at Perrys well as they embark on this exciting new chapter in the Company’s development." For more information please visit our Corporate and Commercial Service or contact David Browne on 01604 233233 or click here to email David.