A team led by Steven Millward advised Ringways Motor Group on their acquisition by DM Keith Ltd.
“We were pleased to advise the shareholders of Ringways in connection with the disposal to DM Keith and this marks the fourth significant transaction for us in the motor sector this year (with further deals in the pipeline). Ringways is a client we have worked alongside for a number of years and it’s been a pleasure to work with them, adding value along the way, culminating in this exit.”
Steven Millward, Partner
The acquisition is a great strategic fit for DM Keith as both businesses are culturally aligned, with a focus on family values and a similar age with a strong emphasis on delivering exceptional customer service with a personal touch.
“The acquisition of Ringways; a well-known and respected business in the Yorkshire area, enables us to continue to invest in our business for future and sustainable growth. We have a long-term desire to increase our portfolio and the addition of two fantastic brands is a huge step in the right direction.” Dougal Keith, Managing Director of DM Keith
DM Keith currently employees 290 staff members and will now increase this total to 445 employees. The combined annual turnover of £250 million will move the Leeds based business into the enviable top 60 position within the AM100 Motor groups within the UK.
In recent months the team has advised four motor dealerships on significant deals, including Smart Fleet Solutions on their acquisition by Cazoo.
The corporate team has advised on deals in excess of £100m in the first half of 2021.
If you are considering an acquisition or interested in developing your business, we’re here to help – get in touch.