SLM Group directors complete postponed MBI

SLM Group’s four directors have completed a management buy-in confirming their commitment to the dealership group and its shareholders.

Directors 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 SLM’s board said it aimed 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 pandemic although remained a shared vision of Brian Wakeford, one of the original founders, as well as the late Ian Wakeford to ensure the continued future success of the company.

“I am thrilled about this new chapter,” said 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 and the launch of two Bosch service centres at their Nissan Hastings and Suzuki Tunbridge Wells locations.

The St Leonards Motors Group has car showrooms, service and body repair centres across East Anglia, Kent and East Sussex.

Its dealership portfolio comprises of brands such as Toyota, Vauxhall, Suzuki, Nissan, Lexus and GWM ORA, offering their customers new and approved used car sales, as well as authorised aftersales. In addition to its main dealer franchises, SLM Group operates its own used car branches, known as SLM Select, providing customers with pre-owned vehicle options.