Car auction group set for expansion after multi-million MBO
A car auction group with a major site in the West Midlands has secured a multi-million pound management buy-out deal to enable it to continue with its expansion.
Aston Barclay is set to use the investment from Rutland Partners to develop a new 18-acre centre at Donington Park, Leicestershire, which will become one of the largest country car auction sites, with space for 350-400 cars.
The MBO has been led by new CEO Neil Hodson, who brings over 25 years’ experience to Aston Barclay, following stints at Manheim, HPI and Experian.
Glenn and David Scarborough, formerly group managing director and commercial director respectively, will both remain company shareholders as non-executive directors.
Laurence Vaughan, previously CEO and is now non-executive chairman of motor dealership, the Sytner Group, is also joining the board and investing as non-executive chairman.
Established in 1984, Aston Barclay is one of the UK’s leading auction and remarketing vehicle suppliers for the automotive industry.
The group currently operates from five sites around the UK – Chelmsford, Leeds, Prees Heath, (North Shropshire) Westbury (Wiltshire) and Donington Park.
Barclay’s Leeds centre has now been completely redeveloped; aligning it with the other sites in the group. The investment in the sites stands at £1.5m over the past two years.
The company sells vehicles on behalf of customers including leasing and finance companies, franchised dealerships, car manufacturers and car supermarkets. The group’s sales are open to both trade and private buyers.
The new facility at Donington Park will serve as Aston Barclay’s central hub for all remarketing operations, as well as being the home to a new buyer services and account management team.
The site will be open in the final quarter of this year, with further network expansion planned in the future.
Mr Hodson said: “Rutland Partners’ multi-million pound investment across all areas will help further develop our service offering for both buyers and vendors. Our aim is to be at the forefront of shaping the remarketing industry, reinforcing our position as the leading independent provider in the market.”
Oliver Jones, of Rutland Partners, said: “We are delighted to have completed our investment in Aston Barclay. The Donington site will deliver a step change in Aston Barclay’s offering to the market and we look forward to working with Neil and his team in delivering this next phase of growth.”
