Collas Crill has advised Van Mossel, a leading automotive group in Europe as they agreed terms for the acquisition of Jacksons Group.
Jacksons, which operates from six locations across the Channel Islands, Isle of Man and the Isle of Wight, is one of the largest dealer groups in the British Isles and employs more than 500 people. No redundancies will be made as a result of the acquisition, which remains subject to competition authority approval.
Acting as lead counsel, Collas Crill oversaw the due diligence and negotiation processes, supported by three teams of external counsel, in a complex deal worth £13.5 million.
Group Partner Simon Heggs said:
‘It has been a pleasure to work with the Van Mossel team on such a unique and significant acquisition in the Channel Islands, Isle of Wight and the Isle of Man, and we look forward to seeing the exciting opportunities that their vast knowledge and expertise of the industry will bring to the islands, once the deal has completed.’
Simon was supported by Guernsey-based Partner Wayne Atkinson and Associate Steve Moore, and Group Partner Sam Sturrock and Associate Itumeleng Mukhova, all based in the firm’s Jersey office.
Van Mossel will acquire Jackson’s trading entities but will lease the properties currently owned by the dealer. Upon completion, the property holdings companies will be transferred as investment fund assets to other parts of the Jacksons Group to reduce the value of exposed funds for Van Mossel, but retain investment assets for the seller.
Eric Berkhof, Managing Director of Van Mossel Automotive Group said:
‘The acquisition of the Jacksons Group is another step in the ongoing evolution of Van Mossel Automotive Group. Collas Crill has supported and advised us in a very good way with this.’
Negotiations between Van Mossel and Jacksons for the lease of each property are ongoing, and will be led by Jersey-based Collas Crill Partner Martin Le Boutillier with support from Partner Paul Nettleship and Associate Harry Round (Collas Crill Guernsey), DQ Associates (Isle of Man) and Acuity Law (England).