Logistic company Kuehne + Nagel has sold its Renault Trucks dealership RH Commercial Vehicles for an undisclosed sum, a year after it bought its parent company The RH Group for £66.9m.
The new owners of the East Midlands dealership, that employs 55 people, include its current MD Nigel Baxter and general manager Paul Pearson, who becomes commercial director, as well as Neville and Peter Baxter.
Last year the dealership turned over £16m from sales, parts and servicing from its head office at Nottingham and its second site at Leicester, which opened in 2010.
"This is an exciting deal which allows RHCV the independence we need to develop our highly specialised business to meet the challenges ahead and to grow our company, profitably," says Nigel Baxter.
"Our sector has been severely effected by the recession yet RHCV has fared well. These are exciting times for RHCV and we relish the opportunity to move our business forward with plans that include the development of a comprehensive network of sites over the next 18 months," he adds.
