The luxury car retailer secured the finance from Barclays Corporate, with advice from MCR’s debt advisory team in Manchester.

Williams Group managing director Nick Cook says the fundraising will pave the way for further acquisitions. He comments, ‘With the new financial structure in place, we intend to be proactive in taking advantage of the opportunities the current climate presents.’

Williams has 12 sites in Bolton, Liverpool, Manchester, Rochdale and Stockport selling BMW, Mini and Land Rover vehicles and motorcycles, and has overall revenues in excess of £300 million. It bought rival dealership David Holmes in Stockport in August last year.