Birketts acts for Essex and Hertfordshire Ford dealer Gates on acquisition
- Credit: Archant
East Anglian law firm Birketts has advised a family-owned motor retail chain on the acquisition, for an undisclosed sum, of four dealerships from Ford Retail.
Gates Ford has taken on sites in Woodford Green, Walthamstow, Enfield and Potters Bar, bringing its network of Ford dealerships across Essex, Hertfordshire and north London to 10.
Birketts advised on all legal matters with its team being led by Adam Jones, corporate partner, who is a member of the firm’s motor industry group and head of the its family-owned business team.
He was assisted by Alex Forwood (corporate solicitor), Clare Barlow (employment legal director) and members of the commercial property team including Matthew Grindley (senior associate), Duncan Williamson (legal director), Daniel Browne (solicitor) and Hannah Harbottle (solicitor).
Mr Jones, said: “It has been a pleasure to advise Gates Group on its expansion plans as it builds for its long-term future.
“The motor sector is currently going through a correction, and we are likely to see the market contract a little further in the first half of 2018, but the board of Gates Group see the clear opportunities to be gained from continued M&A activity, particularly as we expect the used car market to continue to perform well.”
Heath Greenall, chairman of Gates Ford, said: “We are delighted to have completed the acquisition of these dealerships, which are an important part of our ongoing growth strategy.
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“We were aware of Birketts’ motor industry group’s growing reputation in the marketplace, and wanted to work with a team of lawyers that understand the nuances of our sector and are experienced in all aspects of the law relating to the motor industry sector, which Birketts proved themselves to be.”
He added: “As a fifth generation family-owned and operated business it is also important for our advisers to fully grasp our strategy and the wider importance of this transaction to what we are seeking to achieve in the business, and Adam completely gets the direction we are taking and the legacy we are building.”