Sytner Group
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| File:Sytner Group Logo.gif | |
| Company type | Subsidiary |
|---|---|
| Industry | Automotive retail |
| Founded | 1968[1] |
| Founder | Alan & Frank Sytner[1] |
| Headquarters | , |
Number of locations | 140+ |
Area served | United Kingdom |
Key people | Roger S. Penske (Penske CEO) Gerard Nieuwenhuys (Group Chairman) Darren Edwards (Managing Director) |
| Brands | Various automotive brands via retail, including Audi, Bentley & Porsche |
| Revenue | £3Bn (FY2012)[2] |
| £66M (FY2012)[2] | |
| Owner | Penske Corporation |
| Parent | Penske Automotive Group |
| Website | Sytner.co.uk |
The Sytner Group Ltd is a car dealership company headquartered in Leicester, United Kingdom.[1]
The group comprises over 140 car dealerships located in England, Scotland, Wales and Northern Ireland which specialises in premium and specialist franchises from Audi to Porsche, turning over £3Bn in 2012.[2] The group is wholly owned by the United States-based Penske Automotive Group, a NYSE listed part owned division of Penske Corporation.[1][3][4]
History
The group was formed by Frank Sytner and his brother Alan,[5] the owner of the famous Liverpool-based Cavern Club. The brothers founded their first retail franchise in Nottingham in 1968, selling BMWs.[1][6]
After Frank finished his racing career, during which he won the 1988 British Touring Car Championship title,[6] 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.[7]
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.[8]
On 12 February 2002, Sytner Group was itself acquired by American-based motor retailer United Auto Group (UAG) in a $135 million deal.[5] The group was delisted from the London Stock Exchange, while the majority of the Sytner management team remained unchanged.[3][4]
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.[9]
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.[10]
In February 2013, the group reported record revenues of £3Bn, after the purchase major Northern Ireland motor retailer Isaac Agnew.[2]
Awards
In 2017, Sytner Group achieved 1st place in the 'Sunday Times Best Big Companies to Work For Award' and were named the UK's Best Big Company to Work For. Sytner Group have taken part in the award for 11 consecutive years; continually placing within the top-5 positions, acquiring the coveted three star status for four consecutive years and winning a special award in 2017 for Innovation in Engagement - an award that recognises efforts to change perceptions of the industry. [11]
See also
References
- ^ a b c d e "Sytner Group". Business Week. Retrieved 29 May 2014.
- ^ a b c d Tim Rose (18 February 2013). "Record sales and profits for Sytner Group". Automotive Management. Retrieved 29 May 2014.
- ^ a b Plunkett, Jack W. (2005). Plunkett's Retail Industry Almanac 2006. Plunkett Research Ltd. p. 10. ISBN 1-59392-055-5.
- ^ a b Fortune 500: United Auto Group, CNN, April 17, 2006
- ^ a b "Leicestershire Rich List 2013 - 43. FRANKLIN SYTNER". Leicester Mercury. 5 November 2013. Retrieved 29 May 2014.
- ^ a b International directory of company histories, Jay P. Pederson - 2002 Volume 45 - Page 398
- ^ "See who's made The Leicestershire Rich List 2013". Leicester Mercury. Retrieved 22 August 2015.
- ^ Rodney Hobson. "Fund Manager Data, News & Analysis by Citywire". citywire.co.uk. Retrieved 22 August 2015.
- ^ "Sytner buys Ryland sites". am-online.com. 18 September 2006. Retrieved 22 August 2015.
- ^ "Sytner's Birmingham Bentley showpiece". AM on-line. 24 April 2006. Retrieved 23 September 2016.
{{cite web}}: Cite has empty unknown parameter:|1=(help) - ^ "sytner group company profile". sunday times. 24 February 2017. Retrieved 27 February 2017.