Asset Alliance buys Hanbury Riverside for £17m08 August 2018

Vehicle finance business Asset Alliance Group has acquired independent truck dealership Hanbury Riverside in a deal worth £17 million, including vehicle assets.

The move gives Asset Alliance Group its first depot in the South East, complementing existing bases in Wolverhampton, Hampshire and Scotland.

Hanbury Riverside is best known for selling high spec tractor units, between one and three years old. It also has a contract hire and leasing portfolio in the same region.

Asset Alliance Group CEO Willie Paterson describes Hanbury Riverside as “a perfect fit”, adding: “We also see huge potential to broaden its products and service offering to include specialist truck sales, new and used trailer sales, rental and fleet management.”

Lee Smith, son of Hanbury’s founder Ron, will continue to run the site. The dealer’s three other directors are retiring, including Glyn Davies who is pictured, right, along with Smith (left) and Paterson (centre).

Laura Cork

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