Tustain Motors Begins Acquisition Drive with Northern Dealerships.

Geldards has advised the former Chief Executive of Bristol Street Motors, John Tustain, owner of Tustain Motors Limited, on his latest venture within a booming motor retail sector.

Tustain Motors Limited has purchased two Northumberland Vauxhall dealerships in Ashington, from Milburn Motors Garages Limited and Alnwick, from Willis of Alnwick Limited, will be followed by further acquisitions as Tustain Motors Limited seeks to expand its share of the market.

Mr Tustain owned 27% of Bristol Street Motors, a £500 million turnover business, before it was sold to Vertu Motors plc in 2007 for £40 million. Now Chairman of Tustain Motors Limited, he is joined in the venture by Managing Director, Brian Baxter and Financial Director, David Storey, both formerly of Vertu.

The company is actively looking to purchase other dealerships in the North and Midlands, particularly those with Ford branded sites.

John Tustain said: "With these acquisitions Tustain Motors Limited marks the start of its wider strategy to acquire and improve motor retail sites across the Midlands and North. Our aim is to build the group with further acquisitions over the next few years."

Andrew Borkowski, Head of Geldards' Motor Retail Group, said "We are delighted that John is back in the business and that he plans to once again build a market leading brand in what is a booming industry sector."

Simon Bursell of Midlands-based Business Advisers Dains who, along with Geldards, worked to conclude the transactions on behalf of Tustain Motors Limited with Lloyds Bank who provided debt funding.

Simon Bursell, corporate finance partner, from Dains, said: "John and the team have an outstanding track record of building sales at motor dealerships. The decision to buy back into the car retail sector and their plan to acquire an additional 10-15 franchised dealerships is a real demonstration of their confidence in the sector and consumer spending.”