SLM Group Announces Management Buy In
Board of Directors become shareholders of St Leonards Motors Holdings Limited
SLM Group have announced that their four Directors have successfully completed a management buy in; solidifying their commitment to the automotive company and its shareholders. This significant milestone was achieved on Friday 28th April, and is a major move for the SLM Group, as Mark Phillips, Gus Wakeford, Jason Barlow and Will Woods pledged to remain dedicated to the company until retirement, or until suitable successors are identified. Alongside existing family shareholders, the Board of Directors aim to secure the expertise of the current management team and foster confidence among the 274 staff they currently employ across East Anglia, Kent and East Sussex.
This transition, which has been in progress for over three years, was delayed in part due to the challenges posed by the 2020 global pandemic. However, it remained a shared vision of Brian Wakeford, one of the original founders with John Wakeford, as well as the late Ian Wakeford to ensure the continued future success of the company.
“I am thrilled about this new chapter,” says Mark Phillips, Managing Director of SLM Group. “We remain committed to delivering exceptional service to our customers, providing employment stability, and generating growth opportunities for both staff and shareholders. The management buy in signals the start of an exciting era for St Leonards Motors and the Board of Directors are eager to lead the company into a prosperous future.”
This news comes in the wake of many recent accomplishments by the group, including
- The introduction of the all-electric brand, GWM ORA, to their Norwich showroom.
- Welcoming the Suzuki franchise to their portfolio at their former Vauxhall site in Royal Tunbridge Wells.
- The launch of two Bosch Service Centre operations at their Nissan Hastings and Suzuki Tunbridge Wells locations.