By Powerscourt on 16/03/2023
Powerscourt is proud to have advised Lithia & Driveway (“Lithia”), one of the largest automotive dealer groups in North America, on its acquisition of Jardine Motors Group (“Jardine Motors”), the UK-based automotive trading business, Lithia’s first-ever UK acquisition.
Lithia Motors is listed on the New York Stock Exchange, has a market capitalisation of more than $6.5bn and is among the fastest growing companies in the Fortune 200 with 296 stores in 26 states and an employee base of 23,500.
Jardine Motors represents 14 of the world’s most renowned luxury car brands, including Ferrari, Jaguar, McLaren and Porsche. For the past 31 years, it has been owned by Jardine Matheson Holdings and operates in more than 50 locations across the United Kingdom, employing approximately 2,700 people.
Lithia will continue to invest in Jardine Motors, building on the strong momentum it has generated and its leading UK market position while providing omni-channel and eCommerce optionality for customers.
The Powerscourt team was led by James White, Director and Head of Industrials & Support Services, supported by Nicholas Johnson, Consultant, and Joseph Ratcliff, Analyst.
James White, Director, said: “I’m exceptionally proud of the Powerscourt team for their sterling work in communicating the strategic rationale behind this deal. This transaction demonstrates the confidence that international partners such as Lithia have in the UK’s capital and consumer markets and is an exciting new chapter in both Lithia and Jardine Motors’ stories.”