Reports coming out of the North West this week suggest that Vertu Motors has concluded a major refinance package with Barclays.

Vertu, which operates 95 sales and aftersales outlets, has snapped up a string of dealers in recent months, including January's deal to buy a Vauxhall outlet in Keighley previously operated by Walter C Brigg.

Michael Sherwin, Vertu financial director, said: "Barclays have been very supportive of our requirements and play an integral part in our plans for future growth.

“It's been a busy and exciting year for the group and the new finance package will support further acquisitions as we continue to execute our growth strategy.

“Our order book for March is already stronger than this time last year and we will continue to assess further acquisition opportunities as we pursue our objective of developing a scaled business in the automotive retail sector.”

Vertu expects turnover to exceed £1.2bn in the year to February 2013.