Norwich, Lowestoft and Attleborough car dealer Dingles changes hands after nearly a century in family ownership
- Credit: � ARCHANT NORFOLK PHOTOGRAPHIC
One of East Anglia's best-known car dealerships has left family ownership after nearly a century, following its acquisition by a Sussex counterpart.
But, despite Dingles Motor Group becoming part of the St Leonard's Motor Group (SLM), staff have been reassured about the future of its branches in Norfolk and Suffolk.
Dingles, which has sites in Norwich, Lowestoft and Attleborough, was established in 1919 by George Dingle and, until the deal, had been run by third-generation family member John Dingle. The terms have not been disclosed.
SLM is also a family firm and managing director Ian Wakeford, the nephew of its founder, said he planned to continue running the Dingles franchises, which include Hyundai, Lexus, Isuzu and Toyota dealerships, with the same ethos.
Mr Dingle, who had been with the company since 1975, said: 'I've known Ian Wakeford for some 21 years and I am confident that SLM will carry on the business in same manner as Dingles has for close to a century.
'I would like to take this opportunity to thank all of our customers and employees over the years. It has been a pleasure.'
With its acquisition of Dingles, SLM has gone from 200 employees to more than 350 and now operates 14 dealerships as well as repair and service workshops. The move represents a first step into East Anglia for the company, which until now has centred around the south coast.
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Mr Wakeford said: 'It is SLM's desire to merge the two like-minded companies into one strong motor group for the benefit of all of our customers. We look to retain many of the positive processes that Dingles already has in place.'
SLM director James Barlow has taken up the reins at the East Anglian franchises.
Dingles reported a turnover of £36.4m for the 12 months to December 31, 2015 with a pre-tax loss of £455,734, Companies House documents show.
Ashtons Legal partner James Tarling, who led the transaction for Dingles Motor Group, said it represented 'a successful exit' from the business for Mr Dingle.
'Customers and staff alike will be pleased to learn that the thriving business he has developed will live on; St Leonard's Motors are committed to continuing the business out of the current locations and its long-term future is assured,' he added.