Andy Shuter (pictured above), founder of Frontline Solutions, has sold a controlling interest in the business to its private equity partner CV6 Limited.
CV6 initially took a minority investment in the company in 2008. However, the identification of significant growth opportunities during the last financial year prompted the investment house to take a majority stake, with plans to reinvest in the business moving forward.
The investment also signals changes to the senior management team, coinciding with the company’s strategic growth plans.
Joint managing director Martin Hill (pictured below) will become managing director with full UK day-to-day operational control, while Shuter will assume a new role heading up Frontline’s global growth strategy and development in new markets.
Shuter will also be dedicating more of his time driving his own charity the F&I Foundation, which supports promising sportspeople and athletes. Dr Mark Spink will remain in the role of technical director, with what is expected to be a significantly increased team.
Shuter commented: “The opportunities moving forward are immense. There comes a time when it becomes obvious that a business is ready to progress to another level. I look forward to the coming years with great anticipation and excitement, as the business now has everything at its disposal to progress quicker than ever before.”
A spokesperson from CV6 commented: “Andy has built a business which has a superb product and reputation, and one which we are proud to have worked closely with since 2008.
“We have recognised opportunities in the market moving forward, and the greater investment will facilitate an injection of skillsets, as well as further development of Frontline’s systems. The changes will allow both potential and existing customers to experience an ever-improving service offering, and the company itself to undergo the next stage of its expansion.
“Andy remains an integral part of our global strategic team, and with Martin Hill’s knowledge and capability, the industry should be expecting great things of Frontline Solutions.”
Last October Frontline Solutions launched DealTrak LIVE a new system aimed to help brokers and central funding units (CFU's) negotiate the changing requirements within the motor finance industry.
DealTrak LIVE was launched across two events which, in total, hosted over 60 brokers and CFU's, who were all treated to the unveiling of the new system, as well as an in-depth explanation of the new features and functionality. Importantly, delegates had the chance to speak to Frontline developers, as well as support staff, to ensure that the system accommodates input directly from the industry.
Frontline’s existing system is a well-established and reputable system, which currently assists the majority of the UK Auto Finance Broker market with business critical procedures.
Hill stressed: “However, the role of the broker/CFU in today’s industry is becoming increasingly complex. As lead generation methods, and routes to market diversify, brokers and CFU's are faced with a multitude of considerations in order to continue to compete in the market. On a wider scale, consumer finance is fundamentally changing, a change catalysed by regulation, which turns the spotlight onto processes, practices, and compliance.
“Consequently, DealTrak LIVE is a system which has been engineered to pro-actively address industry demands.”
He added: “The driving force behind DealTrak LIVE is to allow businesses to do more than just tick regulatory boxes, but to put the correct systems and procedures in place to equip brokers/CFU's with the means to run a contemporary and compliant business at maximum efficiency.
“Our position allows us to take a helicopter view of the industry, and build solutions based on the requirements of our customers. Our customers look to us for guidance through a regulatory maze, and we aim to give them forward thinking solutions which can future-proof their business. As a result, this is a system which is not just for the broker you are today, but the broker you will be moving forward.”
