Vehicle dealership acquired by management buyout

Tustain Motors, which has seven car and commercial dealerships across Scotland and the north of England, has been sold to a management buyout team.

The business was incorporated in 2009 and now employs 112 staff, with a turnover of nearly £41m.

The deal sees David Storey and Brian Baxter, who joined as directors in the same year, exit the operational business and move to a co-chair role.

Tustain Motors, named after the retired co-founder John Tustain, is headquartered in Northumberland.

Azets acted on behalf of Tustain Motors. Its corporate finance team on the deal comprised partner David Foreman and colleague Oliver Williams.

Foreman said: “Tustain Motors is an extremely successful operator in the automotive retail sector, with various franchised dealerships.

“It was a pleasure to s