Marshall considers AIM flotation for motor group
Marshall of Cambridge is exploring the possibility of an IPO for its motor group on the UK’s AIM market to raise expansion capital. The move is part of plans announced by the group today to support increased investment in all of its businesses.
Professional advisers have been appointed and Marshall Motor Holdings is now approaching potential investors. Provided the right investors are interested in backing the proposition and they value the business at the right price, it is anticipated that shares in Marshall Motor Holdings plc will start trading in early April. A final decision on whether to proceed with the float will be made in the next few weeks.
Marshall of Cambridge (Holdings) Ltd will remain a private family company and continue to be the majority shareholder in Marshall Motor Holdings, which will retain the Marshall name and brand.
The motor group's principal activities are the sale and repair of new and used vehicles through Marshall Motors and the leasing of vehicles through Marshall Leasing. The group's businesses are integrated and include a total of 71 franchises covering 24 brands, operating from 63 sites across 16 counties in England.
The group operates from leasehold and freehold sites, includes two bodyshops and also operates one fuel filling station under the Shell brand. Marshall is the only dealer group in the UK to represent all of the top five prestige (Audi, BMW, Mercedes-Benz, Land Rover and Jaguar) and top 10 volume (Ford, Vauxhall, Volkswagen, Nissan, Peugeot, Toyota, Citroen, Hyundai, Kia and Skoda) vehicle manufacturer brands.
The proposed change is part of a clear commitment by Marshall to support the continued growth and expansion of all of its principal operating companies, including Marshall Motor Holdings, Marshall Aerospace and Defence Group, Marshall Group Properties and Marshall Fleet Solutions.
The board has been considering a number of options and has concluded that the flotation is the right option for the Marshall Group to continue to support the ambitious investment plans it has for all of its businesses.
Sir Michael Marshall (pictured above), chairman of Marshall of Cambridge (Holdings) Ltd said: “We have a long and proud track record of supporting the growth of our operating companies and this has accelerated in recent years.
“This proposed flotation of Marshall Motor Holdings will be excellent news for all of our businesses and will enable us to channel more of our own resources into our engineering companies.”
Robert Marshall, group chief executive, added: “This is an exciting opportunity for Marshall, including Marshall Motor Holdings which has more than doubled in size over the last six years. This flotation will give that company the scope to continue this trajectory, providing greater opportunities for everyone in the business.”