“An offer had been tabled by SAGA that the shareholders thought was worth serious consideration. We needed some support to take the deal to an acceptable point and to project manage the transaction to a completion.
John was recommended to us via an historic working relationship with one of our shareholders. It turned out to be a very valuable appointment as the deal became quite complex, particularly during due diligence, which extended the timeframes. John built relationships with the buyer team based in France and also with the shareholders and management which proved extremely helpful when negotiations became difficult.”
Sid Sadique – Shareholder
Belfy Trucks Limited (T/A Sparshatt Truck and Van) was acquired by SAGA Mercedes Benz in a multi-million-pound deal.
Operating from 4 depots across Kent, Sparshatt is a well-established supplier of new and used trucks and associated maintenance with a strong link with the Mercedes-Benz marque.
SAGA it currently operates 14 Mercedes-Benz Truck dealerships and 15 Mercedes-Benz Van outlets across France, Belgium and Switzerland. SAGA’s parent company RCM, which is based in La Roche-sur-Yon in the Vendee region of France, has a portfolio of 118 sites representing automotive and marine brands, and employs a total of 2,750 people.
The acquisition of Sparshatt represents SAGA’s first entry into the UK market.
Skye Corporate Finance was appointed to support the shareholders and management of Sparshatt in the negotiation of Heads of Terms and through the due diligence process.