5 July 2017
ANNOUNCEMENT
PETER WARREN AUTOMOTIVE GROUP COMBINES WITH JAMES FRIZELLE’S AUTOMOTIVE GROUP TO CREATE A LEADING AUSTRALIAN AUTOMOTIVE GROUP
Peter Warren Automotive Group (PWG), in partnership with Quadrant Private Equity (Quadrant), has agreed to invest in Queensland’s premier automotive retailing group, James Frizelle’s Automotive Group (Frizelle’s). The combination brings together two of Australia’s most trusted and well established automotive retailing groups, with a combined history of over 100 years. The combined group will generate approximately $1.5bn in annual revenues and will be led by Paul Warren.
Frizelle’s was established in 1985 and is one of the largest motor vehicle dealers in Queensland, selling over 15,000 new and used vehicles per annum across 11 new brands from 6 sites across South East Queensland and Northern NSW. Frizelle’s premier Southport site boasts 7 new car franchises, a used car department, and state of the art servicing and parts facilities. Frizelle’s other sites are in Springwood, Nerang, Robina, Tweed Heads and Lismore.
Brett Frizelle, Director and Dealer Principal of Frizelle’s said: “We are excited to be building on the legacy of James Frizelle’s Automotive Group by joining The Peter Warren Automotive Group in their next phase of growth. In the past few years we have continued to invest in growth across our sites and in our relationships with leading manufacturers. Our partnership with PWG will enable the combined group to capitalise on the significant opportunities in the automotive retailing market into the future.”
Paul Warren, CEO of PWG said: “Frizelle’s is a leading automotive retailer in Queensland and has an outstanding reputation across the industry, complementing our existing brands and locations. We are excited to work with Brett, Rebecca and the management team to support the growth of the combined business into the future.”
Justin Ryan, Managing Partner of Quadrant Private Equity said: “Quadrant is excited to be investing in the automotive retailing industry through our partnership with PWG and Frizelle’s. PWG and Frizelle’s are two iconic Australian Automotive groups brands, and we have been impressed with strong culture and focus on customers across both groups. We look forward to investing alongside our partners in the greenfield, brownfield and consolidation opportunities across the industry.”
PWG was advised by Deloitte and Gilbert + Tobin. Frizelle’s was advised by Miles Advisory and Allens.