Thames Valley: Ridgeway acquires Pentagon Group

Pitmans, the Thames Valley’s largest commercial law firm, has acted for the Ridgeway Group on its acquisition of the Pentagon Group for a total consideration of £38 million.

In January 2007 Ridgeway acquired the whole share capital of the Pentagon Group which deals in Mercedes Benz passenger cars and commercial vehicles. This totals four car dealerships and five commercial vehicle outlets spread throughout Hampshire, Sussex and Dorset. In 2006, the turnover for the Pentagon Group was £122 million, making the combined turnover of both companies £257m.

The Ridgeway Group is an established, family-owned business that retails Volkswagen, Audi and Skoda vehicles from several dealerships in the Thames Valley region.

John Hutchinson, Head of Corporate, Pitmans, said: “This deal cements a long-established and productive relationship between Pitmans and Ridgeway. The speed with which a successful completion was reached was a testament to the professionalism and abilities of everyone involved in the Pentagon Group acquisition.”

David Newman, Managing Director, Ridgeway Group, said: “We are very pleased with the relationship we have formed with Pitmans since Ridgeway was founded in 1997. This complex deal was completed in a short time, and enhances our existing brand portfolio with yet another premium brand.”