Independent petrol station owner and operators, HKS Holdings, has completed the acquisition of Leicestershire based Brobot Group. This, after the recent purchase of seven Shell sites, means the group has acquired 30 filling stations in three months, taking the total number of sites to just under 60.
Following the addition of 23 sites from Brobot to the family-owned HKS group, the company now stretches from Yorkshire to Surrey.
This and other recent acquisitions have enabled HKS to strengthen their position nationwide including increasing presence in the North as well as London and the M25 region.
With the conclusion of recent deals HKS expects annualised turnover to reach £250m, representing growth of over 150%.
Brobot was founded by John Bootle in 1978 with a single site at Thorpe Road, Melton Mowbray and expanded through acquisitions over the years. John Bootle died tragically early in 1996, following which Brobot continued its successful growth under the chairmanship of his wife, Pat Bootle and her dedicated executive directors, Bridget Smith and Eddie Bright.
The deal was supported by Geln McLeod and Jason Mowe at HSBC, overseen by Antony Walsh’s legal team at Eversheds and with advice from Nick Taylor and Ian Borley at KPMG on behalf of HKS Holdings. Brobot Group was led by Patric Phelan with David Browne and Ben Rookes of Cooper Parry providing lead advisory, along with Martin Smith and Stephen McElhone of Spearing Waite providing legal advice.
Shane Thakrar, chief executive at HKS Holdings, said: “On behalf of the entire company and the Thakrar family, we’re delighted at the addition of the new locations to the HKS group, which will help us to increase our offering to customers across the country.
“We’re delighted to have the continued support from HSBC, along with the great work KPMG and Eversheds have completed on our behalf during this transaction.
We’d also like to extend our thanks to the Bootle family, Eddie Bright and Bridget Smith from Brobot for trusting us with the acquisition and taking these sites forward in the future.
We look forward to welcoming the new members of our team on board to work alongside our existing committed team of individuals, who provide the strength behind our growth strategy.”
The new deal comes off the back of an already successful year for HKS who recently signed deals with Spar to brand the majority of their forecourt retail units, as well as Subway and Costa to offer additional choice to consumers passing through their station doors.
In addition, HKS recently took the award for Business of the Year at the Midlands Asian Business Awards as well as taking a number of accolades at the recent Forecourt Trader Awards 2015.
HKS Holdings’s business plan is driven by rapid expansion, with the company actively seeking to purchase existing sites and land for development. The group will also continue development of its existing portfolio, enhancing its convenience retailing offer and pursuing partnering options with food-to-go brands. The company has funds committed and support from HSBC to continue their expansion and development strategy.
Nick Taylor, director at KPMG, said: “This deal demonstrates the success of independent operators within the petrol station sector and is an important acquisition within the East Midlands, given it brings together two successful regional businesses. This acquisition also provides yet further evidence of banks supporting businesses within the East Midlands to meet their strategic growth plans.”
The new sites will be taken over by HKS Holdings with immediate effect; development to the filling stations will begin as soon as possible.