Cars 2 Limited's Drive to Success
Cars 2 Limited has acquired the freehold interest in its Barnsley Peugeot showroom for an undisclosed sum. Cars 2 Limited has dealerships across Yorkshire, and is an authorised and approved supplier of Hyundai, Peugeot, Seat and Mazda vehicles.
Allan Otley, Managing Director of Cars 2 Limited, comments: "The purchase of the property in Barnsley adds another valuable asset to the Cars 2 balance sheet. The fact that we have been able to complete the deal is a reflection of our resilience over the last year, despite the tough market conditions. Our performance is based on delivery of exceptional service and customer satisfaction, which are the fundamental hallmarks of Cars 2. I am confident that the group can continue to serve its customer base across Yorkshire and grow from strength to strength."
Cars 2 Limited was advised on the deal by Lupton Fawcett. Corporate Finance Director, Daniel McCormack, comments: "This is another good acquisition for Cars 2 Limited, which is a business that has defied the recent difficult market conditions as a result of its prudent management and focus on delivering complete customer satisfaction."
The deal was part funded by Bank of Scotland Commercial Banking.