Wednesday, March 18, 2015
Marshall applies to float on London Stock Exchange
Marshall Motor Group has applied to list on the London Stock Exchange AIM.
In documents submitted this morning it said the likely date of the IPO would be 1 April, 2015.
“The group is the only dealer group in the UK to represent all of the top five prestige (being Audi, BMW, Mercedes-Benz, Land Rover and Jaguar) and top ten volume (being Ford, Vauxhall, Volkswagen, Nissan, Peugeot, Toyota, Citroen, Hyundai, Kia and Skoda) vehicle manufacturer brands,” it said.
The company has set up a plc holding website to comply with listing rules.
Marshall is rated number 10 in the Motor Trader Top 200 with annual turnover of £1.2bn.
Since taking control of the business in 2008, chief executive Daksh Gupta has grown the business from a small East Anglia-based family firm to a business with a footprint stretching from Hertfordshire to Yorkshire.
Since the beginning of 2009, Marshall Motor Group has added 36 branches to its portfolio and now operates about 71 franchised dealership businesses representing 23 different manufacturer brands.
The company currently sells around 55,000 new and used cars and services and repairs over 450,000 vehicles in its workshops. Marshall also operates five accident repair centres and one filling station.
In March last year Marshall appointed Peter Johnson as a non-executive director. Johnson has wide industry and City experience having done stints as chief executive at Marshall from 1990 before moving on to become chief executive of listed group Inchcape in 1995. He subsequently served as chairman of Inchcape.
DATED: 18.03.15
FEED: MT
