Meridian snaps up four car dealerships

It is also providing an economic boost for the Yorkshire coast, by developing a new site in Scarborough. The acquisitions will see the group’s annual turnover double to £125m.

The expansion into the West Midlands brings the Lexus brand into the group for the first time, with the acquisition of a dealership at Fort Dunlop near Birmingham, as well as Toyota centres at Fort Dunlop, Solihull and Tamworth.

All will operate under the Vantage banner, with the rebranding accompanied by significant investments in the sites.

Scarborough’s new Vantage Kia dealership will be next door to the group’s existing Toyota centre, where it has been operating since 2010. The dealership marks a £350,000 investment by Meridian and will open its doors in late July, creating five jobs.

Meridian Motor Group was founded in 2003 by managing director, Mark Robinson, with the acquisition of two Toyota centres, in Knaresborough and York and an accident repair centre in Knaresborough, which was later sold. The group’s current turnover is £65m, and it employs 186 staff.

Advisers involved in the latest deal included law firms Walker Morris and DLA, along with Colliers International.