AUCTION HOUSE ACQUIRED BY MBO

by
Aston Barclay sold in MBO

Auction house Aston Barclay has been acquired in a management buy-out. The full details have not been disclosed, but investment firm Rutland Partners have contributed a ‘significant investment.’

The MBO has been led by new Chief Executive Officer Neil Hodson, who brings 25 years’ experience to Aston Barclay, following stints at Manheim, HPI and Experian.

Glenn and David Scarborough, formerly MD and Commercial Director respectively, will both remain the company’s shareholders as non-executive Directors. The continued investment by the Scarborough family helps keep Aston Barclay’s family-run ethos. Laurence Vaughan is also joining the Board and investing as Non- Executive Chairman. Laurence was previously CEO and is now Non-Executive Chairman of dealer chain Sytner Group.

Aston Barclay’s Glenn Scarborough said: “We are delighted to welcome Neil [Hodson] and his management team as investors in Aston Barclay supported by Rutland Partners. These are exciting times for the remarketing industry and we are confident this support and the investment will enable Aston Barclay to exploit the opportunities for growth the market has to offer.”

“We have really enjoyed working with the Livingstone team on what was an important transaction for us and an exciting development in Aston Barclay’s future. They showed commitment and hands-on support from start to finish and we are grateful for their valuable guidance throughout the process” he added.

The deal was advised on by mergers and acquisitions firm Livingstone Partners.

EAG UPGRADES WAREHOUSE MANAGEMENT

Leeds-based firm install MAM warehouse management system

Read More

SEMI-AUTOMATED BATTERY ASSEMBLY LINE ESTABLISHED

Comau UK chosen to implement highly automated production

Read More

ECP START ELECTRIC VAN TRIAL

A pair of electric vans have joined the fleet at Euro Car Parts’ Isle of Wight branch.

Read More

CAT CONVERSATIONS: GARAGE OF TODAY, TOMORROW AND THE FUTURE

Don’t miss out, sign up to CAT’s latest webinar on 21st April right now

Read More

£10 MOT OFFERED BY AGGREGATORS

GoCompare has struck a deal with garage comparison site Who Can Fix My Car

Read More

Go to comments

Your email address will not be published. Required fields are marked *