RCapital acquires City Motor Holdings

The deal was signed at the end of December 2012.

Company
City Motor Holdings is located across three Ford retail dealerships operating under the Gowrings banner in Basingstoke, Newbury and Reading. The group's Peugeot, Citroen, Honda, Seat and Skoda dealerships are meanwhile operating under the City banner on the five-acre Houndmills Autoplaza Motorpark in Basingstoke.

The combined operation sells in excess of 6,000 vehicles and generates more than £90m in turnover each year. The company employs 250 staff.

People
Steve Hemlock is the operations director of City Motor Holdings.

Advisers
Management – RSM Tenon, Darren Miller (Corporate finance).

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