We’re seeing reports that Vertu Motors is in talks with Helston Garages. If the deal goes through then Vertu adds both Ferrari and Porsche brands to the Vertu franchises.
The report come via Vertu’s own announcement earlier this week: ‘Vertu Motors confirms that it is in advanced discussions regarding the potential acquisition of Helston Garages Group Limited, a privately owned predominantly premium manufacturer automotive retail group based in the southwest of England.
‘These discussions may or may not lead to a transaction.
‘Funding for the transaction, were it to occur, would be from re-financed and new debt facilities, including long-term mortgage funding. Further announcements will be made in due course as necessary.’
If this deal comes through then Vertu really is delivering on its recent promise to grow, having previously discussed an acquisition pipeline.
Keep your eyes on Vertu.