Vertu purchased all of the
issued share capital for Gordon Lamb Group Ltd, which has its headquarters in Chesterfield. It also acquired this company’s subsidiaries, which run the Chesterfield branches of Nissan, Skoda, Land Rover and Toyota, as well as the Derby branch of Skoda.
The company was founded by Gordon Lamb back in 1953, having paid a mere £400 for its original site. It is believed that Gordon Lamb Group Ltd was the very first Volkswagen car dealership to launch within the UK – starting out with only six of the famous Beetle models.
It had revenues of £85.8 million up to the end of last year, as well as adjusted pre-tax profits of £2.7 million and £2.9 million adjusted EBITDA. The company’s net assets for this period were £10.2 million and the board of Vertu anticipates that it will achieve earnings enhancing status during the first year under its new owners.
Vertu Motors chief executive, Robert Forrester, told the London Stock Exchange that:
“Gordon Lamb is a much respected and well established business operating in Derbyshire, a core territory of ours.”
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