A NORTH-EAST law firm has helped a car dealership buy a Land Rover sales company.

Bond Dickinson, which has offices in Stockton and Newcastle, advised Gateshead-based Vertu Motors on a £31m deal to acquire Albert Farnell.

The move marks Vertu's entry into the Land Rover market, and comes as the firm reveals record sales of £1.3bn and increased operating profits of £11m.

The Bond Dickinson team was led by corporate partners Ben Butler, Shiv Sibal and Jamie Pass, who advised on all aspects of the acquisition, including an associated £50m equity fundraising for Vertu and share placing.

Robert Forrester, Vertu Motors' chief executive, said: “This represents a key step in the development of Vertu’s business and Bond Dickinson’s team worked with us from its inception and provided invaluable assistance.”

Albert Farnell Limited, which will be bought from the Co-operative Group, is made up of three Land Rover dealerships in West Yorkshire.

Vertu is one of the UK’s largest motor retailers, with Ford dealerships in Durham and Hartlepool, Nissan and Seat showrooms in Darlington, and a Vauxhall outlet in Sunderland.