Included in the acquisition is Evans Halshaws' contract hire business Fleetcare, which on January 1 was relaunched as c.2K, and fleet management software company Car Fleet Control. Pendragon said there will be some selective asset disposal, including some if its own and Evans Halshaw's dealerships, and expects to make savings through greater efficiencies of at least £3 million a year.
Evans Halshaw is the UK's sixth largest car retailing group, operating 71 franchises from 64 dealerships. The offer values each of the company's shares at 260p. The deal came barely a fortnight after the Birmingham-based company revealed it was in talks with a potential buyer.