Sytner Group
From Wikipedia, the free encyclopedia
The Sytner Group Ltd is a car dealership group headquartered in Leicester, United Kingdom. The group comprises over 100 car dealerships located in England, Scotland and Wales. The group is wholly owned by the U.S. firm Penske Automotive Group, a NYSE listed part owned division of Penske Corporation.
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[edit] History
The group was formed by Frank Sytner and his brother Alan, the owner of the famous Liverpool based Cavern Club. The brothers founded their first retail franchise in Nottingham in 1968, selling BMW's.[1]
After Frank finished his racing career, winning the 1993 British Touring Car Championship title, the group began a rapid period of expansion by acquisition of BMW franchise's in Leicester and Sheffield. From 1995, other marquees were added with the acquisition of Mercedes-Benz, Ferrari and Audi franchise's in Bristol, Loughborough and Leeds. In 1996 the group opened Land Rover, Jeep and Porsche dealerships in Stockport and Reading. The group floated on the London Stock Exchange in 1997, changing its name to Sytner Group PLC.[1]
In 1998 the group acquired the family-run Thames Ditton based Land Rover and Jaguar Cars business of Guy Salmon, which then became the name of all Sytner owned Land Rover and Jaguar franchises. The acquisition of the Ixion Motor Group in August 1999 in the form of the Ixion Motor Group doubled the number of locations, and brought in the Volvo, Saab and Lexus brands to the group. The 2001 acquisition of the Ron Stratton Group brought the Bentley brand into the group with a Manchester franchise. The group also developed its first Toyota franchises in the Birmingham area.[1]
[edit] United Automotive Group
On February 12, 2002, Sytner was acquired itself by American motor retailer United Auto Group (UAG) in a $135 million deal. The group was delisted from the London Stock Exchange, while the majority of the Sytner management team remained unchanged.[1]
The group expanded further into South Wales with the purchase of family owned Mercedes dealerships, together with two from rival Pendragon Group in Bedford and Northampton. In 2004 the group acquired Audi dealerships Aston Green Ltd and Glenvarigill Ltd, moving the group into Scotland.[1]
In 2005 the head office was moved to a new location in Leicester, located just off junction 21 of the M1 Motorway. The purchase of William Jack's PLC expanded the groups franchises to include Honda. In 2006 the group completed the development of a Bentley, Lexus and Lamborghini dealership at Fort Dunlop, Birmingham.
