Cooper Parry’s market-leading Automotive Corporate Finance team has advised the shareholders of Johnsons Cars Limited on its sale to Athenaeum International Holdings.
Athenaeum International Holdings—the investor behind the acquisition of Brayleys Cars—has further expanded its UK automotive retail portfolio with the purchase of Johnsons Cars. The combined group now operates 79 franchise sales points across the UK, representing 21 automotive brands. The acquisition also includes Johnsons’ TPS Centres, Johnsons Fleet Services, and group support functions.
With this strategic move, the newly combined group will rank among the UK’s top ten automotive retailers.
José Blanco, CEO of Brayleys, commented:
“This is an exciting new era for the company. Johnsons Cars is a highly regarded and well-run business that perfectly complements our existing brand portfolio and geographic footprint.“The shared values between our teams and our combined strength in key manufacturer partnerships make this a natural fit for the next step in our growth trajectory.”
Mike Berwick, CEO of Johnsons Cars, added: “After 26 years of Johnsons Cars, it was incredibly important to find the right business to carry it forward.
“Following careful consideration by the board, we’re confident that the new owners share our values and have the vision and means to create continued success for our staff, brand partners, and customers.
“I want to sincerely thank our dedicated team, loyal brand partners, and valued customers all of which have been instrumental in shaping Johnsons Cars into the business it has become.”
The transaction further reinforces Cooper Parry’s reputation as a leading advisor in the Automotive sector, underscoring its position at the forefront of UK Automotive Retail transactions.
Sam Rotherham, CP’s Corporate Finance Manager said: “Johnsons sustained growth over the years makes them a very attractive business, and this move by Athenaeum really demonstrates their commitment to the UK auto sector. Johnsons expands the Athenaeum portfolio both operationally and geographically. Allowing the shareholders an elegant exit from the industry.
“It has been a strange period for transaction activity within the automotive sector, however our team continues to complete a number of strong, scaled transactions. High levels of profitability in the market remains difficult to achieve, however the CP automotive team have a strong pipeline of deals, and we would expect to see activity levels remaining similar. We expect to see further group consolidation, as OEMs are pushing for reduced network partners and international investment into the sector is sustained.”
