Marshall Motor Group Acquisition Of F Cross & Son LTD.

Marshall Motor Group has acquired family-owned F Cross & Son Ltd. based in North Lincolnshire and South Yorkshire, as well as the Scunthorpe Kia franchise. Under the deal Marshall, number 11 in the Motor Trader Top 200, will represent VW in Grimsby and Scunthorpe where it will also represent VW commercials.

Around 120 F Cross & Son Ltd. staff have transferred to Marshall under the terms of the agreement. Marshall were advised by Alastair Gunn (pictured left) and Karin Horsley from Greenwoods Solicitors LLPDaksh Gupta, Marshall’s chief executive, commented: “We are excited to be partnering Volkswagen, both with passenger cars and with light commercial vehicles, at these new businesses. Since we started out with our new strategy in 2008, we have been very keen to partner with both brands and build on our existing relationship with the wider Volkswagen Group.

Volkswagen is one of the most highly respected automotive brands globally and we are looking forward to building a strong relationship with them in the coming months and years. This acquisition is consistent with our strategy to grow nationally to minimise our over exposure to East Anglia and grow with scalable businesses as well as to build depth to our relationships with key brand partners like the Volkswagen Group.”

Forrester Boyd advised the owner of F Cross & Son Ltd in the transaction, with the team being led by Mike Beckett corporate finance partner. He commented: “The main challenge was the tight timetable to the original date of completion, although this was later delayed for four weeks. The due diligence process conducted by the Buyer was comprehensive and we assisted our client in providing responses to the financial, tax and in some cases the legal due diligence questions. The deal included the hive out of a business division of F Cross & Son Ltd. which was not part of the sale which we also advised on.”