LONDON, UK: Constellation Automotive Holdings’s wholly-owned subsidiary CAG Vega 2 Limited has offered to acquire the entire issued and to be issued share capital of Marshall Motor Holdings for £322.9 million.
CAG Vega 2 has received an irrevocable undertaking to accept the offer from Marshall of Cambridge (Holdings) Limited in respect of its entire shareholding of 50,390,625 ordinary shares in the capital of Marshall Motor, representing approximately 64.4 per cent of the issued ordinary share capital of Marshall.
Under the terms of the offer, Marshall Motor shareholders shall be entitled to receive 400 pence in cash for each Marshall share.
The Constellation Group is focussed on broadening its offering for both consumers and business partners across the UK and Europe, and the potential acquisition of Marshall continues this strategy. In recent years, the Constellation Group has grown its “B2B” auction channels, including a move to online digital platforms, to provide the best choice of vehicles to trade buyers and liquidity and value to trade sellers.
It also continues to develop its “C2B” channel, providing consumers with an efficient way to sell their car and making those cars available to trade buyers. It has continued to develop its “B2C” marketplace and associated preparation and logistics infrastructure to provide an efficient channel for trade partners to sell cars on-line to consumers in a number of countries.
The Group continues to look to develop, grow and embrace technology to ensure it can operate efficiently and effectively in order to provide the best range of services to its wide base of partners and customers.
Marshall Motor is the 5th largest motor dealer group in the UK, pro forma for the acquisition of Motorline. Marshall Motor operates 164 franchise dealerships representing 27 different brand partners in 37 different counties across England and Wales. Marshall’s strategy has been to deliver continuing growth in its retail business organically and through acquisitions.
In addition, Marshall operates 10 trade parts specialists, seven used car centres, six standalone body shops and one pre delivery inspection centre.