A fast-growing Midland motorhome dealer has taken over its next door rival in a move estimated to add double-digit growth to annual sales.
Brownhills Group, owned by a subsidiary of the Bank of Greece, has announced the acquisition of Westcroft American Motorhomes of Cannock for an undisclosed sum.
Westcroft, believed to be the country's biggest American motorhomes dealership, is next door to Brownhills' own Cannock dealership.
The deal means that Brownhills, based at Newark, Nottinghamshire, has grown from three sites to seven in the past 12 months.
Brownhills Cannock managing director Michael Lowe said: "The Westcroft company is widely regarded as the UK's largest and best American motorhome dealership and will fit extremely will with our existing portfolio.
"The site is adjacent to our own Cannock site and is a first class, modern, purpose built motorhome centre on over two acres of land with further developments available."
The two operations will ultimately be merged into one site but Westcroft's owners, Mel Durkin and Steve Ruston, will remain with the business.
The Westcroft acquisition is expected to add £13 million of sales annually to the group's turnover which is estimated to be about £300 million in the current year.
Alan Greenough, partner at London-based lawyers White & Case, and Morgan Atherton, corporate finance director at the Nottingham office of accountants KPMG, advised Brownhills on the acquisition.
Alan Gardner, corporate finance partner at the Wolverhampton office of Haines Watts, provided strategic planning advice to the directors of West-croft, preparing the business for sale, managing the transaction and providing tax advice. ..SUPL:
