LEADING SCOTTISH MOTOR GROUP GROWS WITH ACQUISITION

Park’s of Hamilton (Holdings) Ltd, are pleased to announce the acquisition of Macrae and Dick, the long-established and renowned Scottish motor group.

The acquisition of Macrae and Dick creates an enlarged group which expands the already extensive reach of Park’s Motor Group, increasing the representation of BMW, MINI, Jaguar, Land Rover and Honda within the group whilst also introducing new partnerships with Ford, Mazda and Toyota.

Park’s, who are supported by the Bank of Scotland in this exciting venture, see this purchase as a perfect fit, both culturally and geographically and as an opportunity to further enhance their position as a driving force within the car industry. The acquisition will add a further 12 dealerships to the group and takes the number of franchise partners to 23. The acquired locations in Stirling, Perth, Inverness, Elgin and Aberdeen complements the prime locations already held in Ayrshire, Lanarkshire, Glasgow, West Lothian and Fife.

Director Graeme Park said: “We are thrilled to bring such a prestigious group into the Park’s portfolio and we look forward to the new challenges of extending our business.

“We believe this is the right move for us. It is a purchase which sits well within our ethos and it is one which we are confident will enhance our business and add even more value.”

Ross Park, Director, added: “We are moving in to new territory and we cannot wait to get started. The acquisition was assisted by the support of the Bank of Scotland, in terms of funding, and that of our current partners, BMW, MINI, Jaguar, Land Rover and Honda who were all supportive of increasing our representation of their brands.  We are also delighted to forge new relationships with fantastic brands such as Ford, Toyota and Mazda.”

Mark Hull, relationship director, Bank of Scotland said: “This is an exciting new venture for Park’s.  The purchase of Macrae and Dick is a perfect fit for the business and we look forward to continuing to support it’s growth ambitions to make the group an increasing driving force within the Scottish motoring industry.

“Macrae and Dick, based in Inverness, Elgin, Aberdeen, Stirling and Perth, remain major dealers in these areas due to its ongoing philosophy of offering the highest quality and service to their customers. Again, this fits well with Park’s, which prides itself on its own industry leading standards.”

Francis Hamilton, majority shareholder and Chairman of Macrae and Dick commented “When we decided we were to sell the business we sought out a motor group in Scotland which was similar to our own and one which likewise expresses commercial competence, courtesy to its customers and concern for its staff.  In that I have identified Park’s Motor Group whose Chairman, Douglas Park, I have known for decades and he has my absolute trust in these fields.”

Macrae and Dick who can trace their beginnings back to 1878 when they sold horse drawn carriages currently employ around 500 staff and the acquisition will therefore see Park’s Motor Group increase to around 1750 staff in total.

Park’s will now be able to offer Bentley, BMW, BMW Motorrad, Citroen, Dacia, Fiat, Ford, Honda, Jaguar, Kia, Land Rover, Maserati, Mazda, McLaren, MINI, Mitsubishi, Nissan, Peugeot, Renault, Skoda, Suzuki, Toyota and Volvo.