One of the UK’s leading auction and remarketing companies, Aston Barclay Group, will receive a multi-million pound investment as part of a management buyout.
The business has secured investment from Rutland Partners to pave the way for expansion including new and updated auction centres and IT systems.
The MBO is led by new chief executive officer Neil Hodson, who brings more than 25 years’ experience to Aston Barclay, having held senior roles at Manheim, HPI and Experian.
Company founders Glenn and David Scarborough, formerly group managing director and commercial director respectively, will both remain company shareholders as non-executive directors.
Laurence Vaughan is also joining the board and investing as non-executive chairman. Vaughan was previously CEO and now non-executive chairman of Sytner Group, one of the UK’s largest dealer groups.
Hodson said: “Aston Barclay is a great business and 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.
“With Glenn and David staying on-board, Aston Barclay’s family-run approach will remain at the heart of our offering for customers.”
Aston Barclay has also restructured its senior management team, with Martin Potter joining the board in the position of group operations director.
He is supported by national operations manager Brett Henderson, while a new sales director will be joining the board in the near future.
Stewart Ford has also been appointed as group IT director following a successful career at cap hpi.
He will spearhead the investment in Aston Barclay’s digital strategy, which will be at the heart of every auction centre, driving the integration of physical and online auctions.
Future investments by the business will include a new 18-acre centre at Donington Park, which will become one of the largest auction sites in the country, with space for 350-400 cars under one roof.
It 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 open during Q4, 2017, with further network expansion planned in the future.
In addition, Aston Barclay’s Leeds centre has been completely redeveloped; following updates at the company’s Chelmsford, Prees Heath and Westbury centres over the past two years.
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.”
Established in 1984, Aston Barclay Group is one of the UK’s leading auction and remarketing vehicle suppliers for the automotive industry. It sells vehicles for customers including leasing and finance companies, franchised dealerships, car manufacturers and car supermarkets and the group’s sales are open to both trade and private buyers.
The Group currently operates from five UK auction centres in Chelmsford, Donington Park, Leeds, Prees Heath and Westbury.
(L-R) Aston Barclay group non exec director Glenn Scarborough, new Aston Barclay group CEO Neil Hodson and Oliver Jones from Rutland Partners