Press Release: Pitmans Acts For Ridgeway Group In Its Acquisition Of Two Volkswagen Dealerships

For immediate release February 2010 PITMANS ACTS FOR RIDGEWAY GROUP IN ITS ACQUISITION OF TWO VOLKSWAGEN DEALERSHIPS Pitmans, a leading commercial law firm in the Thames Valley, has acted on behalf of Ridgeway Group in its acquisition of two Volkswagen dealerships at Oxford, together with a preparation and bodyshop centre at Enstone, Oxfordshire, for an undisclosed consideration. The transaction was led by Pitmans Corporate Partner, Stephanie Perry, and assisted by Delphine Mehouas, Property Partner. The sites were previously operated by Motorworld Volkswagen and have been re-branded Ridgeway Oxford, with all staff being retained, increasing the company’s presence across the Thames Valley, adding over 43,000 sq ft to its portfolio, and its workforce to 740 employees. Ridgeway is ranked 25 in the Motor Trader Top 200 dealers. Commenting on the transaction, David Newman, Chairman of Ridgeway Group said: “The acquisition of the two Oxford sites is a perfect strategic fit for us in terms of their locations being continguous to our existing business. We are delighted to enhance our Volkswagen portfolio, increase our representation to existing and prospective Volkswagen owners across the Thames Valley and expand our service and product offering, which includes our used car stock exceeding 1,000 vehicles for the first time.” John O’Hanlon, Chief Executive of Ridgeway Group said: “The Ridgeway Group was established in 1997 with two of our existing Volkswagen outlets at Newbury and Wantage, so these latest purchases maintain our association with the brand and strengthens our fantastic relationship with the Volkswagen Group.” Stephanie Perry, Pitmans Corporate Partner added: “It was very satisfying to conclude this acquisition for Ridgeway Group, a long-standing client of the firm. The transaction involved a three way deal with the seller and two other buyers, and we were pleased to provide the depth of expertise and speed of response that our client required”. -Ends- For further information, please contact: Jackie Tang, Pitmans, jtang@pitmans.com 0118 957 0274 / 07881 817199 Susan Maloney, Pitmans, smaloney@pitmans.com 0118 957 0225 NOTES TO EDITORS: • Winner of ‘Law Firm of the Year’ and ‘Deal of the Year’ at the 2008/09 Thames Valley Deals Awards • 7th largest law Firm in the South East of England, outside of London • Pitmans has offices in London and Reading • 1 Crown Court, 66 Cheapside, London EC2V 6LR • 47 Castle Street, Reading, Berkshire RG1 7SR • The Anchorage, 34 Bridge Street, Reading, Berkshire RG1 2LU • 31 Partners • Staff members now total more than 200 • Pitmans is the Thames Valley’s leading commercial law firm, with 22 departments ranging from Banking & Finance, Commercial, Commercial Property, Competition Law, Construction, Corporate, Debt Recovery, Defendant Insurance, Dispute Resolution, Employment, Information Technology, Insolvency & Corporate Recovery, Intellectual Property, Pensions, Planning & Environment, Private Client: Matrimonial, Private Tax & Succession Planning; Residential Development, Risk & Compliance, Sport & Entertainment, Telecommunications • The Pensions Department has the largest team of Pension lawyers in the South East outside of London and the biggest law firm owned Independent Trustee company in the UK (Pitmans Trustee Ltd). • Pitmans’ website can be found at www.pitmans.com • Pitmans is a founder member of InterAct Europe EEIG, a network of Law firms in Europe – www.interacteurope.com