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Announcement of listing of Marshall Motor Holdings on AIM market
02 April 2015
As you may be aware, Marshall Motor Holdings, which includesMarshall Motor Group and Marshall Leasing, has announced its partial flotation by means of an initial public offering of shares.
This is a positive move, reflecting a determination to support the growth of the Group in the future. It is important to note that the Marshall family, who have kept this business private for over 105 years, will remain the majority shareholders after this event. Our future will continue to be based on the core Marshall values that has served us so well over the years.
Commenting on the announcement, Sir Michael Marshall, Chairman of Marshall of Cambridge (Holdings) Ltd said:
“This is an exciting day for Marshall. We are proud to have nurtured our motor businesses formore than 105 years, since they were founded by my grandfather in 1909. We are delighted now to see thembecome a free-standing, independent company and we look forward to watching their progress. We wisheveryone in Marshall Motor Holdings all the very best for the future.”
Daksh Gupta, CEO of MMH, commented:
“We have been delighted by the investor support for our admission to AIM. Our IPO is the culmination of many months’ hard work and means Marshall Motor Holdings is well positioned to deliver continued strong growth.
“On behalf of everyone at MMH I would like to place on record our gratitude for the support over more than 100 years of Marshall of Cambridge. We look forward to continuing to work with them along with all of our new shareholders.
“Today represents a significant milestone in our continued development together. There are many exciting opportunities ahead for MMH and all of our people.”
Non-executive chairman of MMH Peter Johnson commented:
"We are delighted that our initial public offering has been successful, marking a new and exciting phase in MMH's long and proud history .With the support of our shareholders, brand partners and management team we are well positioned to deliver continued strong growth."
Peter Cakebread, Managing Director of Marshall Leasing commented;
“I have spent the last twenty five years working to build Marshall Leasing into a respected player within our industry. This move is great for the Group, as it is all about investment in our future. It will enable us to take full advantage of any growth opportunities, whilst enhancing our ability to deliver on client expectations. Meanwhile, our values and commitment to customer service will remain unchanged”
If you have any queries about this announcement or its implications please feel free to email Peter Cakebread directly at pc@marshallweb.co.uk
The Marshall Motor Group is a Top 10 dealer group and the second largest privately owned dealer group in the UK. Since the beginning of 2009, Marshall Motor Group has added 36 branches to its portfolio and now operates about 71 franchised dealership businesses representing 23 different manufacturer brands, with a turnover of £1.2bn per annum and 2,700 colleagues.
The company currently sells around 55,000 new and used cars and services/repairs over 450,000 vehicles in its workshops. Marshall also operates 5 accident repair centres and 1 filling station’s.
Marshall Motor Holdings aims to be the UK’s premier automotive retail and leasing group as recognised by colleagues, customers, business partners and shareholders.
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