Sunday, September 20, 2020

North East entrepreneur sells business to Doncaster car dealership group

An entrepreneur has driven away from the motor retail business he’s run for more than three decades after selling it to a national retailer.

The Hodgson Motor Group’s Toyota, Mazda and Suzuki dealerships at the Metrocentre in Gateshead and Silverlink in Newcastle, have become part of the Doncaster-headquartered Stoneacre Motor Group after Managing Director Steve Hodgson decided it was time to retire.

The entire 180-strong Hodgson workforce is being retained by Stoneacre, which intends to invest in continuing to grow its newly-acquired dealerships.

Jonathan Waters and Ben Jackson of the specialist corporate & commercial team at Hay & Kilner Law Firm in Newcastle acted on behalf of The Hodgson Motor Group in the disposal, which had originally been due to complete in March before being delayed by the pandemic.

Steve Hodgson joined what was his father’s motor repair and retail business from school in 1976 and led the group’s expansion into its first large purpose-built dealership at the Silverlink Retail Park in 1992, which was the initial stage of its development into a region-wide business with an annual turnover of around £80m.

Steve Hodgson says: “When I decided it was time to take a step back, we looked at a number of different firms who expressed an interest in taking the business on and it was clear from our very first meeting that Stoneacre had the same values and personal approach that we’ve always held.

“The deal was done on a handshake and it’s great to be leaving the business and our excellent team in such good hands.”

Stoneacre Motor Group represents 26 manufacturer partners in 59 locations with 120 franchised outlets.

Managing Director Shaun Foweather said: “For over 30 years, Steve has operated a business in the Newcastle area and developed a great reputation with customers and has a very high level of staff loyalty.

“He is leaving the business in great shape and creates a fantastic opportunity for Stoneacre to grow it further.

“We’re retaining all of the existing team and intend to provide them with full head office support, training through the Stoneacre Training Academy and full integration into the Stoneacre Culture to ensure that customer satisfaction is further enhanced under the Stoneacre brand.

“I would like to wish Steve a happy and fulfilling retirement and welcome the Hodgson team into the Stoneacre family.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

£1.1m engineering skills boost for Sheffield

In a national first, teenagers at UTC Sheffield will develop a new range of in demand high-level digital engineering skills following a £1.1 million...

Cable cleat manufacturer expands North Yorkshire headquarters

Cable cleat manufacturer, Ellis Patents, has invested £500,000 in a 25 per cent expansion of its North Yorkshire headquarters. The main element of the expansion...

Time Out: Spencer Coffin, director of Procure Direct

The weekend is just around the corner and that means another ‘Time Out’. This week Business Link talks to Spencer Coffin, director of Procure...

Yorkshire hydroelectric projects acquired

Two hydropower projects in Yorkshire have changed hands as part of a £4.74 million acquisition. The deal sees JLEN, a listed environmental infrastructure fund, swoop...

Leeds med-tech firm raises £2.2m via share placing

Surgical Innovations has successfully raised £2.2 million to reinflate working capital, invest in new product development and sustainability support initiatives. The AIM listed Leeds-based med-tech...

ITM Power part of major hydrogen partnership

Sheffield hydrogen specialist, ITM Power, is one third of a new partnership which aims to use the clean renewable fuel to help Scotland achieve...

Related news

£1.1m engineering skills boost for Sheffield

In a national first, teenagers at UTC Sheffield will develop a new range of in demand high-level digital engineering skills following a £1.1 million...

Cable cleat manufacturer expands North Yorkshire headquarters

Cable cleat manufacturer, Ellis Patents, has invested £500,000 in a 25 per cent expansion of its North Yorkshire headquarters. The main element of the expansion...

Time Out: Spencer Coffin, director of Procure Direct

The weekend is just around the corner and that means another ‘Time Out’. This week Business Link talks to Spencer Coffin, director of Procure...

Yorkshire hydroelectric projects acquired

Two hydropower projects in Yorkshire have changed hands as part of a £4.74 million acquisition. The deal sees JLEN, a listed environmental infrastructure fund, swoop...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close