Sale of motor dealership Sparshatts of Kent to Belfry Trucks
Cripps has advised Sparshatts of Kent Group, an award winning Mercedes-Benz commercial vehicle dealer, on its sale to Belfry Trucks Limited. Having seen significant growth, it now employs more than 200 people across four sites and has a turnover of over £88.3 million.
This landmark deal will see Sparshatts become part of Belfry Trucks Ltd, which has exciting plans for the continued development of the group.
Cripps, together with accountants Burgess Hodgson, advised on the deal which completed on 27 March 2018. Burgess Hodgson partner Ken Jones has a longstanding relationship with Sparshatts, having been associated with the group for around 25 years and advised them for more than 11 years.
Andrew Sparshatt, Director of Sparshatts commented: “We are very grateful for Ken and the team at Burgess Hodgson, and Nigel Stanford, John Kirkwood and the Cripps’ team who have expertly guided us through a particularly complex sale process. It always felt as personally important to them as it did to us as families. We are delighted with the outcome, the quality of advice and the service received and wouldn’t hesitate to recommend both Burgess Hodgson and Cripps to other owner managers who are looking to sell their business.”
This is the latest in a number of deals the firm’s corporate team has advised on. For more information see here.