Possibly the biggest news of the year as far as the motor dealership space is concerned, has been announced.
The Hatfield Motor Group has successfully acquired the Fury Motor Group. The multi-award winning Hatfield Motor Group has been a leader in the industry for just over two decades, doing excellent business with the
Audi, Volkswagen and
Volkswagen Commercial and brands, as well as the
MAN Trucks and Buses franchises. It is owned by the Kaftel and Mthimunye families, and has an impressively high BBBEE Level 2 rating. The acquisition has been supported by the trade unions that represent both companies as they currently exist, as well as the Competition Commission.
Fury Motor Group is well-known for its sterling work with brands such as
Ford, Fiat, Haval, Honda, Isuzu, Jeep, Mazda, Opel and
Renault. It is a strong business with heavy business and community ties going back 25 years. In fact, this group on its own has been operating 22 franchises with these brands. With the new Group coming into business, the total number of franchises will be 35 countrywide.
This will give the Group an entirely new customer base and assist its growth strategy and objections. It will also give many new clients the reputable service of the
Hatfield Motor Group that thousands of others have been experiencing all these years. In addition, the new Group will keep 50% distribution rights for the
Triumph Motorcycle brand in
South Africa, thus creating a new client base that is has not had accessed to before.
“We plan to further embed the successful business philosophy and processes developed by
Fury over the past two decades,” said
Hatfield Motor Group Managing Director Brad Kaftel. “
HMG is a company that is highly rated by their employees which is evident in the low staff turnover rates, and we are eager to welcome the
Fury team to our family.”
Such a massive deal would not have been possible without the strong support of the capable firm of attorneys in the form of Cliffe Dekker Hofmeyr, as well as Investec Private Bank through its Private Capital and Structured Property Finance business. Financing will continue being provided by long-time institutional partners ABSA Bank, First National Bank, Wesbank, Nedbank’s Motor Finance Corporation and Standard Bank.
