John Tustain, the former chief executive of Bristol Street Motors and owner of Tustain Motors, has purchased two Vauxhall dealerships in the North-East for his latest venture.
Mr Tustain owned 27 per cent of Bristol Street Motors, a £500 million turnover business, before it was sold to Vertu Motors in 2007 for £40 million.
He said the acquisition of the two dealerships in Northumberland would be followed by further acquisitions as Tustain Motors seeks to expand its share of the market.
The company is actively looking to purchase other dealerships in the North and Midlands, particularly those with Ford branded sites.
Mr Tustain said: "With these acquisitions Tustain Motors marks the start of its wider strategy to acquire and improve motor retail sites across the Midlands and North.
"Our aim is to build the group with further acquisitions over the next few years."
Simon Bursell of Birmingham-based business advisors Dains, along with law firm Geldards, worked to conclude the transactions on behalf of Tustain Motors with Lloyds Bank who provided debt funding.
