Ravenscroft Investments has completed the acquisition of the Jacksons CI Group for more than £40m.
The sale has received the go-ahead from the Jersey Competition Regulatory Authority and the Jersey Financial Services Commission.
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Jacksons CI Group includes the Jacksons and Motor Mall dealerships in Jersey and Guernsey, Trinity Tyres in Jersey and St Martin’s Tyres in Guernsey.
Following the deal, all businesses, operating assets, and premises constituting the Jacksons CI Group will be owned by Ravenscroft.
Jacksons’ ex-managing director Paul Collier has been named as the CEO for the acquired entity, and the buyers have also assured that all 250 jobs across the Channel Islands will be retained.
Channel Islands-based closed-ended investment firm Bailiwick Investments, where Ravenscroft serves as investment manager, will hold 20% to 30% of the capital in Ravenscroft and is providing shareholders the opportunity to be part of the deal.
