Press Release – Anders Hedin Invest acquires 11% in British Pendragon
The investment in Pendragon is passive in nature and done with the belief that the UK automotive business – also after a possible Brexit – will be attractive and a benchmark for the industry.
Anders Hedin Invest AB has acquired 11,61% of the shares in British Pendragon including private owned shares. The investment is passive in nature with a strong belief that the UK market will continue to be an industry benchmark regardless of the Brexit outcome.
– We have been interested in Pendragon for quite some time and have had the possibility to getting to know the company. When the right opportunity to invest in Pendragon arose, we did not hesitate, says Anders Hedin, owner and CEO of Anders Hedin Invest AB.
Anders Hedin Invest AB, founded in 2006, is a Swedish privately-owned investment company investing in businesses mainly related to the vehicle industry. The objective of the business is to manage and develop its present subsidiaries and to invest in future business opportunities that will support and leverage on current investments. Pendragon is a great strategic example of this.
Pendragon PLC Group, founded in 1989, is an British listed company which focuses on four segments: UK Motors, Software, Leasing and US Motors. The strategic objective of Pendragon is to lead the change in the automotive online retail sector. The company has its roots in the UK but also has business in the US, during 2018 they had 10 000 employees and retailed 256 000 vehicles. Some of Pendragon’s brands are Stratstone, Car Store, Evans Halshaw and Pinewood.
Anders Hedin Invest AB
For further information, please contact:
Emma Andersson, Corporate Communication Manager Anders Hedin Invest AB
email@example.com, +46 (0) 707-936053