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Leading European law firm, Fieldfisher, has advised Marubeni Auto Investment (UK) Ltd, a subsidiary of Tokyo-based Marubeni Corporation, on its purchase of a majority shareholding in used-car dealer HPL Motors Group.
The deal will see HPL, which owns three used-car supermarkets in the North West of England, join the Marubeni group of companies, who represent one of the UK's leading automotive dealership groups.
Jonathan Herman, founder of HPL, will retain a minority shareholding and will remain as managing director of HPL, continuing to build on the HPL heritage of the last 30 years
The Fieldfisher team was led by corporate partner, David Wilkinson, assisted by associate Yuri Presniakov.
David Wilkinson commented, "This deal is strategically important for Marubeni, both as it continues to consolidate its position in the UK automotive industry and also as it furthers its move into the increasingly important omni-channel retail space. It has been a pleasure to advise Marubeni on this deal, the team and I wish them every success with their newly expanded operations and look forward to working with them again soon."
The deal announcement marks the latest success for Fieldfisher's fast growing corporate practice which in 2022 reported a 20% increase in annual turnover following an exceptional year for its equity capital markets, M&A and venture capital teams.