Yorkshire-focused AM100 dealer group DM Keith has acquired car and motorcycle dealer group Colin Appleyard, adding four Suzuki dealerships at Bradford, Keighley, Huddersfield and Ashton-Under-Lyne.
Colin Appleyard is one of the longest-serving Suzuki franchisees in the country, and has been run since 2010 by the founder’s son, Robin Appleyard. Its latest accounts show annual revenues of £48 million and 3.1% return on sales, and it also has two Subaru franchises but recently ended its representation of Nissan.
Robin Appleyard said: “The business has been a huge part of our family all my life and I have enjoyed every minute and worked with some fantastic people. Both my sons have successful careers of their own, so with no succession and seeing the continued consolidation the time was right for me to step back.
“We are delighted to have agreed a deal with DM Keith who hold many similar values to us as a business. I’d like to thank the Colin Appleyard team and Suzuki who have always been great to work alongside and am confident they will continue to be very successful. I wish Dougal, Angus and the team all the best in the future.”
DM Keith is another family-owned motor retailer, headed by managing director Dougal Keith and his brother Angus. Once focused on selling Skodas, DM Keith has expanded within the last 10 years to also represent Seat, Honda, Ford, Kia and new Chinese entrant BYD.
Its most recent acquisition was Ringways in 2021. In the latest AM100 listing DM Keith was in 67th place witrh £248m turnover, and the addition of Appleyard means the group expects 2024 revenues of around £300m, which would put it near the middle of the AM100.
Dougal Keith, Managing Director of DM Keith said: “We have been growing steadily over the last few years as part of our vision of being in the top 50 motor groups. Now with the Ringways acquisition now well bedded in, the acquisition of Colin Appleyard comes at a perfect time, allowing us to expand further within the territory and gives us a scaled entry point with Suzuki.
“My senior leadership team and I have been considering other brands for some time now and Suzuki has been one we have seriously considered having seen its success and growth. We are very excited about the future and look forward to welcoming the Colin Appleyard team into the DM Keith Group.”
The deal was managed by David Kendrick and his automotive team at UHY Hacker Young who represented Colin Appleyard with the sale. Kendrick said: “Colin Appleyard is one of the most successful and largest Suzuki dealer groups in the UK. They have an amazing brand and reputation, and it makes absolute sense for DM Keith to add this business to their growing portfolio. I have no doubt the business will continue to grow and flourish as part of a bigger group as well as giving Robin and the shareholders a well-earned retirement.
“It certainly won’t be the last deal of the year, never have I seen so much activity in my 20 years of automotive M&A.”
The sellers were legally represented by Steven Millward of Schofield Sweeney.