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Lookers Taggarts Trade Centre Charles Hurst Lomond Audi

Acquisition of Get Motoring UK Limited

 

LOOKERS plc

ACQUISITION OF GET MOTORING UK LIMITED

 

Lookers plc ("Lookers") is pleased to announce that we have today completed the acquisition of Get Motoring UK Limited ("Get Motoring"). Get Motoring trades as Vehicle Rental Services ("VRS") and supplies vehicles on short term leases to car rental operators in the UK.

 

VRS compliments Lookers existing vehicle leasing businesses and with anticipated annual EBITDA of approximately £3 million, will help to broaden the range of sources of earnings in the Group.

 

Peter Jones, Chief Executive of Lookers, commented:

 

"We are delighted to have acquired Get Motoring UK / VRS, which provides Lookers with the opportunity to extend our vehicle leasing businesses. We remain in a position to pursue strategic growth opportunities as they arise."

 

-Ends-

 

 

 

Enquiries: Lookers

Telephone: 0161 291 0043

Peter Jones, Chief Executive

Robin Gregson, Finance Director

 

Hudson Sandler

Telephone: 020 7796 4133

Nick Lyon / Kate Hough