Local business partnership reaches four-decade milestone
Posted on 23 Sep 2016
Two successful companies celebrating a 40-year business partnership, are looking forward to many more years of success in the future.
In 1976, when one of the very first Ford Fiesta models was rolling off the production line in Valencia, Spain, Jennings Ford, now part of the multi-award winning Jennings Motor Group, was forging a new business relationship with HSBC.
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Nas Khan, Managing Director of Jennings Motor Group said: “We are absolutely delighted to be celebrating such a significant business partnership milestone with HSBC, which all began when we were solely operating as a Ford dealer four decades ago.
“Over the years our business relationship and working partnership with HSBC has grown and developed with the expansion of the company and we can only look forward to continuing to go from strength to strength in years to come.”
In addition to being appointed to handle the general day-to-day finances and banking for the Jennings Ford business, HSBC was also responsible for completing one of the very first major investment transactions involving the company’s former dealership in Morpeth, Northumberland.
The business originated in Morpeth after an ambitious man called Septimus Jennings registered the firm with Companies House in 1912. In 1917 the company became one of the first main Ford dealers in the country to be appointed by Ford Motor Company to sell its cars.
In 1992, a management buyout from the third generation of the Septimus Jennings family took place and in 2005, Nas Khan was involved in a second buyout, which resulted in him taking over as Managing Director.
Over the past four decades, the business partnership with HSBC has developed as a result of on-going investment and expansion plans being implemented across the North East and West Yorkshire.
Today, Jennings Motor Group operates as a multi-franchise business with Ford, Ford Direct, Kia, Mazda, SEAT and Mitsubishi dealerships, as well as a Used Car Outlet located across Tyneside, Wearside, South Tyneside and Teesside. The company has also recently diversified to offer the iconic Harley-Davidson® brand to its expanding portfolio, following the opening of two dealerships based in Leeds and Gateshead.
The most recent project for the successful business partners was the opening of the group’s highly prestigious Gateshead Harley-Davidson dealership in July, which created 12 jobs.
Nas added: “These are very busy, but extremely exciting times for Jennings Motor Group with a number of expansion plans having already come to fruition and many more future projects in the pipeline.”
For the past 10 years, Andrew Blain, Relationship Director for HSBC in the North East has been responsible for all aspects of finance for the region’s longest established motor dealer group.
Andrew commented: “Over the past 10 years, HSBC has supported Nas Khan and the rest of the Jennings Management Team as they have successfully grown their business and diversified their operations. During this time, they have transformed the Group into a multi-brand business, operating from a number of locations, and this was further enhanced recently by the addition of the Gateshead Harley-Davidson franchise. We look forward to working alongside Jennings in the future to support their growth ambitions and to maximise the opportunities available.”comments powered by