Lookers acquires Waterhouse Cars Volvo

Lookers acquires Waterhouse Cars Volvo

Time Stamp: May 4, 2023 4:29 AM
Source Node: 2627700

Lookers has strengthened its Volvo representation after acquiring  Waterhouse Cars Volvo in Chelmsford, Essex for an undisclosed sum.

The acquisition complements Lookers’ existing Volvo dealership in Colchester and adds 40 dedicated staff to the local team.

The new site sees Lookers further extend its Volvo footprint, growing  it to five dealerships, alongside the sites in Colchester, Stockport and Glasgow, and the Polestar dealerships and aftersales businesses in Manchester and Glasgow. 

Following the completion of the transaction, Lookers has committed to invest £2 million in the newly  acquired site to ensure it meets Volvo’s corporate identity standards.

The group is also committing £2.3m of investment for its existing Volvo dealership in Colchester.

The investment will see the site redeveloped as Lookers seeks to invest in the local Essex  area and futureproof the site with a focus on aftersales and electric vehicle infrastructure.  

Duncan McPhee, chief operating officer at Lookers, said:  “Growing our partnership with Volvo remains a priority and our acquisition and the new investment in Chelmsford, as well as our commitment to redevelop our existing dealership in Colchester are steps in the right direction for Lookers. 

“We are delighted to welcome the Waterhouse team to the group and are excited to be building on  our relationship with Volvo as we seek to further extend our footprint of dealerships with this iconic  brand across the country. 

“Our acquisition and redevelopment commitments demonstrate our focus on expanding our business  and we are actively pursuing a healthy pipeline of opportunities.”

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