UNQUOTE

UK - Endless acquires six-site Mercedes-Benz dealership

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Endless is pleased to announce that it has supported the management buyout of H&L Garages Ltd (H&L) from its parent, PD Ports Group Ltd, part of quoted Australian company Babcock & Brown Infrastructure, for ТЃ8.5m. Funding for the buyout was also provided by Euro Sales Finance and Royal Bank of Scotland. H&L operates six Mercedes-Benz dealerships across North Yorkshire, Humberside and Lincolnshire.

H&L has a proven track record and has demonstrated itself to be one of the leading Mercedes-Benz commercial vehicle dealerships, with consistent year-on-year growth and profitability. In the year to March 2006, H&L achieved turnover of £48m and operating profit of £1.2m. The transaction was led by Park Place Corporate Finance.
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