Motor Trader The award-winning and longest running UK magazine for car retailing professionals. Your first stop for News, Jobs and Reports for the motor industry.
Hedin Automotive, a subsidiary to Hedin Mobility Group, has entered an agreement to buy Stephen James Alliance.
The deal takes in the group’s BMW and MINI business, including new and used car sales and aftermarket operations.
Stephen James Group employs 400 people and sells 6,000 new and used cars annually from its London dealerships. It represents BMW and Mini in Enfield, Ruxley and Woolwich and has BMW solus dealerships in Bromley and Blackheath.
The group is rated 72 in the Motor Trader Top 200 Dealer Groups with annual turnover of £218.7m in the year to December 2021, generating pre-tax profits of £7.1m
Hedin Mobility Group said the deal with strengthen its position in the UK, adding to the Mercedes-Benz dealerships it bought last year from the now defunct factory-owned Mercedes-Benz Retail Group.
Following the completed acquisition of Stephen James and the recently announced acquisition of a retailer group in the Netherlands, Hedin Mobility Group will represent BMW and MINI at a total of more than 65 sales points in Sweden, Norway, Finland, Switzerland, Netherlands and the UK.
Anders Hedin, founder and CEO of Hedin Mobility Group said: “We are enthusiastic for the opportunity to welcome the Stephen James Group into the Hedin family.
“This acquisition marks another significant step in our growth strategy and strengthens our commitment to providing outstanding experiences to customers in the UK.
“We admire the reputation and expertise that Stephen James has cultivated over the years, and we look forward to leveraging their strengths to grow our Group’s BMW business and to continue creating value for customers and employees.”
Richard Ennis, Group Managing Director of Stephen James Group said: “We are thrilled to join forces with Hedin Mobility Group.
“Their international presence, industry expertise, and customer-centric approach align closely with our own values.
“This new chapter presents exciting opportunities for our employees and customers alike. With the backing of Hedin Mobility Group’s pan-European operations, we are undoubtably well placed to drive innovation and change whilst continuing to put the customer and employee experience right at the heart of everything we do.”
Subject to regulatory approval, the transaction is expected to be completed in August 2023.