leading car dealership, Holmes, Williams & Purvey (HW&P) Ltd. from its two largest shareholders.

The deal appears set to be consummated within the next fortnight, with an energetic and youthful group of entrepreneurs acquiring a substantial portion of equity in the company from 86-year old founder and chairman Sir John Plowman and legislator and former deputy Premier, the Hon. Irving Pearman, the group's managing director since 1978.

Joining the roughly 40 shareholders of the privately-held firm are deputy managing director, Mr. Donald MacKenzie, 35, consultant Mr. Greg Vasic, 37 and Mr. Richard Zuill, 33.

Although impressed with the firm's development so far, they say they see a new vision to prepare it for the next century.

The three men are partners in another firm, Consulting Solutions, an information systems and management consulting company, with both local and international company clients.

The three men also launched a new venture this week, selling bottled Bermuda rain water, which is on the store shelves this week. A separate company is being incorporated to oversee that venture.

The new partners did due diligence this summer at HW&P and exercised an option to buy the significan portion of the shareholding on September 1.

The HW&P group of companies, with estimated annual sales of $30 million include the capital intensive core business, motor car sales and service.

The group is also involved in cycle sales, service and rental, and, appliance sales and service through the General Electric, Whirlpool and RCA franchises, operators and owners of GE Front Street and operators of the Phillips House franchise.

The company also operates the East Broadway Shell Station and have real estate interests that are leased out through subsidiary Pembroke Marketing Ltd.

The trio's equity purchase in HW&P comes after a year of declines in car sales for most motor car dealers this year. They expect that trend to reverse with more optimism for the economy.

Mr. MacKenzie said: "Like any new generation of management, we have our own ideas of how things can be changed. We'd like to keep all of the good things of HW&P, but like any company, there is always room for improvement and we want to work on those areas.

"One area where we think we can make improvements on is the service side. We are particularly good on the sales side. We have number one market share.

"While we do some very good things on the service side, we want to raise the bar, raise the standard when compared to other local companies in terms of the kinds of services we provide.

"It is our number one mission. We know that service is what sells your products. Even with our good sales record, we think we can improve it with even better service.'' Mr. Vasic said: "There is a whole number of things that we are looking at from a modernisation and information systems point of view. We come from an information systems and service oriented background and we feel very strongly about moving the company forward in those areas.'' The company's car line includes Mitsubishi, Suzuki, Daihatsu, Honda and Mercedes Benz. The Honda business acquisition was completed this summer, although like the Mercedes Benz, manufacturing size changes have recently kept HW&P from importing models because they do not conform to Bermuda's vehicle size restrictions.

"At such time that there is an appropriate car in these two lines for the Bermuda market,'' said Mr. MacKenzie, "we will make it available.'' Prior to the new investors coming on board, the HW&P board of directors had contracted management consultants, Johnston Smith, through Kempe & Whittle, to do a management review. They are due to report in November.

HW&P was began as a partnership in 1946, importing and distributing cars from the Rootes Group manufacturers. Today, the Bermuda company employs 120 people.

HW&P entered into a sales agreement with the Shell Company of Bermuda in 1955 to operate one of the largest service stations in the Island, which is now the East Broadway Shell Station.

During the same year, the company was appointed Bermuda distributors for GE and eventually bought the building on the corner of Reid and Burnaby Streets which was known as the GE Corner.

Between 1980 and 1990, the company's turnover increased from $9 million to almost $25 million.

Other subsidiaries include Bermuda Shine, a company specialising in all aspects of vehicle preparation, that became a wholly-owned subsidiary in 1987.

Two years later, Chiswick Trading Ltd. was incorporated and has become the Daihatsu dealer on Reid Street.

Williams & Purvey, who are set to assume controlling interest.