£20m-turnover car group bought after multi-million pound investment

MOTOR start-up The Car Buying Group has struck a multi-million pound deal with The Greenhous Group.

Car Buying Group, which was founded in 2014 and has turnover of £20m, will remain an independent business while Greenhous Group invests as a minority shareholder, a spokeswoman confirmed. The value of the deal has not been disclosed.

The Greenhous Group is one of the UK’s largest private companies, with revenue of £774.8m in 2014. Founded in 1912, it employs 800 people across its Greenhous franchised dealerships and Smart Fleet Solutions business.

Car Buying Group CEO Tom Marley said the investment would help the Wakefield and Bradford-based car trading business increase its market share and enter the corporate market in the next 12 months.

He added that the “strategic partnership” will enable both companies to grow by offering a

Kerry Finnon, joint chief executive of The Greenhous Group, said the company is excited to work with a company “at the cutting edge of what is a rapidly expanding sector”.

 

 

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