MPK Garages has bought a service station in Derbyshire as it continues with ambitious plans to double the size of the business by 2018.
Riverside Service Station in Belper is the forecourt operator’s second acquisition in the past year.
The site attracted “several offers” from “both independent and corporate operators and exceeded the seller’s expectations on sale price”, according to business agent at Christie & Co David Branch, who oversaw the deal.
“This demonstrates the strength of the market for forecourts in the Midlands with existing companies looking to expand their operations and first-time purchasers looking to acquire their first business,” said Branch.
“This is the second site we have sold for the vendor - the first was back in 2013 where we were instructed by Co-op on an acquisition basis on a site in Wirksworth, Matlock. We wish both the vendor and purchaser the best of luck for their future plans.”
Christie & Co said Leicester-based MPK is currently in the “mature stages of transaction” to buy another site, with “several other deals in the pipeline”.
The £58m-turnover business, which now has 27 sites across the UK, bought Walkers Garage in Carlton in April 2016 following a £14m cash injection to fund growth plans.
Business Growth Fund invested half of the cash in growth capital, and HSBC provided the further £7m in debt funding.
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