Finally a funding stream for home-grown talent
21 August 2017
The launch of a new fund targeting entrepreneurs who want to run their own dealerships sounds like a highly positive development so lets hope Tempus Automotive Investments takes off.
News that South Africas Imperial Holdings has purchased Pentagon is just the latest in a string of deals by overseas buyers in the past 18 months; other examples include Beadles takeover by American Group 1 Automotive and investment by Hong Kongs LSH into Mercedes-Benz dealerships in Manchester and Birmingham.
With plummeting Sterling values, its unsurprising that solid British businesses are such attractive targets. And, with UK economic uncertainty, its far from easy to secure funding through traditional sources.
Tempus founders say they have launched the fund because of this and the limited sponsored retailer opportunities from OEMs. It also recognises there have few new entrants and equally, family-run business can struggle with succession planning.
David Kendrick of UHY Hacker Young, an adviser to Tempus Automotive, said: This concept is a breath of fresh air for the industry. In recent years weve seen significant consolidation and a number of smaller businesses groups unable to find an acquirer. Tempus not only gives the opportunity for high calibre operators in the sector to set up their own business, but also provides an exit route for owners who may wish to retire or plcs to dispose of non-core dealerships.
Tempus will put would-be retailer bosses through their paces in a tough assessment process, but will also provide ongoing support to maximise opportunities for success. If you have the experience and ambition, why not check out www.tempusautomotive.co.uk and ensure that along with the overseas investors, there are more UK dealerships launching in the years to come?
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