Gowan Group has acquired the Opel business in Ireland as the German car manufacturer retrenches.
Gowan Group will assume responsibility for all of Opel Ireland’s operations and current Opel employees will transfer on completion of the transaction.
On completion, Gowan Group will be Opel’s wholesale import partner in Ireland. The agreement is subject to approval of the Competition and Consumer Protection Commission. Opel sold c. 5,800 vehicles in Ireland in 2018, with a market share of 3.8%.
Gowan Group has been involved in motor distribution in Ireland for fifty years, importing Peugeot vehicles since 1969 and Honda vehicles since 1984. In addition, Gowan Motors retails Kia and Opel and provides after-sales service for Citroen.
Gowan Group is controlled by Convest Ltd, where the principals are Michael Maughan and members of his family. Convest increased annual turnover by 9% to €182m in 2017 and booked an operating profit of €1.5m. Total liabilities at year-end amounted to €60m, year-end cash was €10m and net worth was €66m.
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“We are delighted to become Opel’s import partner in Ireland,” said Gowan Group CEO Michael Dwan. “The close engagement with our colleagues in Russelsheim through this process, the strong dealer network and customer base, and the product pipeline all underpin our belief that Opel will fully realise its potential in the Irish market in the years ahead.”
Gowan Group, which employs 250 people, has a number of other trading divisions. KAL Group is a kitchen white goods and electronics distributor, while Senator Windows supplies windows and doors manufactured in Wexford.
