Lexington Corporate Finance (“Lexington”) is pleased to announce that it has acted as the Corporate Finance Advisor on the successful sale of Thunder Road Motorcycles Limited (“Thunder Road”) to Completely Motoring Group (“Completely”) which provided a full exit for its current owners.
Thunder Road has bases across three sites in Bridgend, Cwmbran and Gloucester and is a main dealer of Honda, Suzuki, Indian and Montesa motorcycles. The business is one of the prime motorcycle dealerships operating across the region and has built up an enviable reputation with its loyal customers. Thunder Road was owned by David Smith and David Mobberley, having been originally founded in 1954 by David Smith’s father, Peter Smith.
David Mobberley of Thunder Road said “Selling Thunder Road Motorcycles was always going to be an emotional time for us. Our company has been selling and servicing motorcycles in and around South Wales and the South West for 68 years and was very much a family business, selling around 2500 motorcycles a year. With a strong and loyal customer base and a dedicated, passionate team of employees at our three stores the decision to sell was a difficult one. Fortunately, we had the team at Lexington, led by Thomas and Pablo, to guide us through the complexities of the process to completion of the sale to the Completely Motoring Group”
The acquisition increases Completely’s offering to 1,500 new and used motorcycles across 10 dealerships, which stretches along the English and Welsh border, including sites in Worcester, Gloucester and Hinckley. It offers a stable of brands such as Triumph, Ducati, Kawasaki, MV Agusta and Yamaha.
James Ayland, group motorcycle sales director of Completely, said: “I am honoured to welcome the Thunder Road Team to Completely Motoring Group. George and I have worked alongside our father since leaving school. We have evolved Completely with its family values into an organisation that sells cars and motorbikes all over the UK, adding Honda and Indian Motorcycle to our other franchises.”
Director Thomas Edwards and senior manager Pablo Shorney acted on the deal for Lexington. Mr Edwards said: “It was a pleasure to act on the sale of the business to Completely. Thunder Road is very highly rated by Honda, Suzuki and the other brands it sold and offers Completely both geographic and brand expansion, making it a significant player in the motorcycle sector”.
Legal advice to the owners was provided by Capital Law.