Sytner Group

Last updated

Sytner Group Ltd
Type Subsidiary
Industry Automotive retail
Founded1968 [1]
FounderAlan & Frank Sytner [1]
Headquarters
Leicester
,
England
Number of locations
140+
Area served
 United Kingdom
Key people
Gerard Nieuwenhuys
(Group Chairman)
Darren Edwards
(CEO)
BrandsVarious automotive brands via retail, including Audi, Bentley & Porsche
Revenue£5.95 billion (2018) [2]
£113.3 million (2018) [2]
Parent Penske Automotive Group
Website Sytner.co.uk

The Sytner Group Ltd is a car dealership company headquartered in Leicester, United Kingdom. [1]

Contents

The group holds dealerships located in England, Scotland, Wales and Northern Ireland and specialises in premium and specialist franchises from Audi to Porsche. [3] The group is wholly owned by the United States-based Penske Automotive Group, a NYSE listed part owned division of Penske Corporation. [1] [4] [5]

History

Sytner Mini, one of two Sytner-operated dealerships on Usk Way in Newport, South Wales. November 2009 Sytner Mini, Newport - geograph.org.uk - 1600470.jpg
Sytner Mini, one of two Sytner-operated dealerships on Usk Way in Newport, South Wales. November 2009

The group was formed by Frank Sytner and his brother Alan, [6] the owner of the famous Liverpool-based Cavern Club. The brothers founded their first retail franchise in Nottingham in 1968, selling BMWs. [1] [7]

After Frank finished his racing career, during which he won the 1988 British Touring Car Championship title, [7] the group began a rapid period of expansion by acquisition of BMW franchises in Leicester and Sheffield. From 1995, other marques were added with the acquisition of Mercedes-Benz, Ferrari and Audi franchises in Bristol, Loughborough and Leeds. In 1996 the group opened Land Rover, Jeep and Porsche dealerships in Stockport and Reading. The group floated on the London Stock Exchange in 1997, as the Sytner Group PLC. [8]

In 1998 the group acquired the family-run Thames Ditton-based Land Rover and Jaguar Cars business of Guy Salmon, which then became the name of all Sytner-owned Land Rover and Jaguar franchises. The acquisition of the Ixion Motor Group in August 1999 doubled the number of locations, and brought in the Volvo, Saab and Lexus brands to the group. The 2001 acquisition of the Ron Stratton Group brought the Bentley brand into the group with a Manchester franchise. [9]

On 12 February 2002, Sytner Group was itself acquired by American-based motor retailer United Auto Group (UAG) in a $135 million deal. [6] The group was delisted from the London Stock Exchange, while the majority of the Sytner management team remained unchanged. [4] [5]

The group expanded further into South Wales with the purchase of family owned Mercedes dealerships, together with two from rival Pendragon Group in Bedford and Northampton. In 2004 the group acquired Audi dealerships Aston Green Ltd and Glenvarigill Ltd, moving the group into Scotland. [10]

In 2005 the head office was moved to a new location in Leicester, located just off junction 21 of the M1 Motorway. The purchase of William Jack's PLC expanded the groups franchises to include Honda. In 2006 the group completed the development of a Bentley, Lexus and Lamborghini dealership at Fort Dunlop, Birmingham. [11]

In February 2013, the group reported record revenues of £3Bn, after the purchase major Northern Ireland motor retailer Isaac Agnew. [3]

July 2016 saw the Group acquire a further 11 dealerships, this time from CJ Automotive. Situated across the North-West, the acquisition saw not only a number of new Volkswagen and SEAT dealerships join the group but also the addition of Sytner Group's first SKODA dealership. [12]

In January 2017, Sytner Group became the UK's biggest Dealer Group after acquiring CarShop for £71.8 million. [13] The move saw the Group's estimated turnover for 2017 grow to £5.3 billion. [14]

Sytner Group continued its growth in 2017 with acquisition of Trainer BMW and MINI in Swansea. Celebrating 40 years of business in 2016, all 100 Trainer staff members transferred to Sytner Group within the move. The acquisition saw Sytner Group's total count of BMW and MINI dealerships rise to 17 for each brand. [15]

In January 2018 Sytner acquired the Car People for an estimated £81 million and has created used car supermarket division by merging CarShop and The Car People. [16] The used car division would sell 55,000 vehicles per annum and would generate £500m annual turnover. [17]

Awards

In 2018, Sytner Group were named by Glassdoor as the 14th best company to work in the UK; [18] not only the highest ranked business in the Automotive Sector, Sytner were the top rated retailer ahead of other large national businesses like Apple and IKEA. The survey is based on direct colleague feedback via the Glassdoor website where Sytner have a 4.4 star overall rating, with 87% saying they would recommend a friend and 100% approving of the Company’s Chief Executive, Darren Edwards. [19]

See also

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References

  1. 1 2 3 4 5 "Sytner Group". Business Week. Archived from the original on 29 May 2014. Retrieved 29 May 2014.
  2. 1 2 "Sytner Group remains on the rise with record 2018 revenues and profit". AM Online. Retrieved 10 July 2020.
  3. 1 2 Tim Rose (18 February 2013). "Record sales and profits for Sytner Group". Automotive Management. Retrieved 29 May 2014.
  4. 1 2 Plunkett, Jack W. (2005). Plunkett's Retail Industry Almanac 2006. Plunkett Research Ltd. p. 10. ISBN   1-59392-055-5.
  5. 1 2 Fortune 500: United Auto Group, CNN, 17 April 2006
  6. 1 2 "Leicestershire Rich List 2013 - 43. FRANKLIN SYTNER". Leicester Mercury. 5 November 2013. Archived from the original on 11 November 2014. Retrieved 29 May 2014.
  7. 1 2 International directory of company histories, Jay P. Pederson - 2002 Volume 45 - Page 398
  8. ↑ "See who's made The Leicestershire Rich List 2013". Leicester Mercury. Archived from the original on 11 November 2014. Retrieved 22 August 2015.
  9. ↑ Rodney Hobson. "Fund Manager Data, News & Analysis by Citywire". citywire.co.uk. Retrieved 22 August 2015.
  10. ↑ "Sytner buys Ryland sites". am-online.com. 18 September 2006. Retrieved 22 August 2015.
  11. ↑ "Sytner's Birmingham Bentley showpiece". AM on-line. 24 April 2006. Retrieved 23 September 2016.
  12. ↑ Group, Sytner. "Sytner Group acquires 11 CJ Automotive sites". Automotive Management. AM-Online. Retrieved 18 August 2017.
  13. ↑ Group, Sytner. "Sytner knocks Pendragon off the top of the AM100 with Carshop acquisition". Automotive Management. AM-Online. Retrieved 18 August 2017.
  14. ↑ Group, Sytner. "Sytner Group acquires Trainer BMW and Mini operation". Automotive Management. AM-Online. Retrieved 18 August 2017.
  15. ↑ Group, Sytner. "Sytner Group acquires Trainer BMW and Mini operation". Automotive Management. AM-Online.
  16. ↑ "Sytner Group buys The Car People supermarket chain". Motor Trader. 12 December 2017. Retrieved 3 January 2018.
  17. ↑ "Sytner owner completes acquisition of The Car People". AM Online. 4 January 2018. Retrieved 4 January 2018.
  18. ↑ "Glassdoor - Best Places to Work UK". Glassdoor. Retrieved 7 December 2018.
  19. ↑ "sytner group company profile". Glassdoor. 7 December 2018. Retrieved 7 December 2018.
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