Thursday, September 04, 2008
MBO for Lythgoe
Bolton-based Lythgoe Motor Group has been sold in a management buyout to its operations manager Mark Beach.
The business, which operates Mazda, Citroen, Kia, Fiat and Nissan franchises and a servicing centre from five sites north of Manchester, was sold for an undisclosed sum.
The MBO, which was facilitated through Trevor Jones' Dealermatch service, follows the retirement of the group's owner Rob Lythgoe.,
"We're going to keep things as they are for the moment," said Beach.
"I think everybody in the motor trade is finding life a bit tougher than it was, so we're just going to keep doing what we're doing and see where we are in 12 months and think about the possibility of expansion then."
Beach has spent 12 years with the business, which currently reports a £40m+ turnover. The business employs 150 members of staff.
"I am confident with the team we have at Lythgoe Motors that we can continue the success of the long standing business and look to grow in the coming years," he said.
DATED: 04.09.08
FEED: MT
The business, which operates Mazda, Citroen, Kia, Fiat and Nissan franchises and a servicing centre from five sites north of Manchester, was sold for an undisclosed sum.
The MBO, which was facilitated through Trevor Jones' Dealermatch service, follows the retirement of the group's owner Rob Lythgoe.,
"We're going to keep things as they are for the moment," said Beach.
"I think everybody in the motor trade is finding life a bit tougher than it was, so we're just going to keep doing what we're doing and see where we are in 12 months and think about the possibility of expansion then."
Beach has spent 12 years with the business, which currently reports a £40m+ turnover. The business employs 150 members of staff.
"I am confident with the team we have at Lythgoe Motors that we can continue the success of the long standing business and look to grow in the coming years," he said.
DATED: 04.09.08
FEED: MT
