ASTON Barclay has bought The Car Buying Group with immediate effect, it was announced today.
The Car Buying Group (TCBG) is number 20 in the 2018 Sunday Times Tech Track 100 list of the fastest-growing private technology companies and was voted the 2017 Northern Tech 100 League Table fastest-growing tech company. Selling more than 10,000 cars nationwide on behalf of car owners and interacting with tens of thousands more, it is one of the largest independent consumer car-buying companies in the UK
The acquisition, which was for an undisclosed sum, will see Aston Barclay’s new 18-acre Wakefield Mega Centre become home to TCBG, with current chief executive Tom Marley moving his 30-strong team to the 18-acre site when it opens later this year. There are plans to double the size of the company and its workforce over the coming years.
Aston Barclay already has a strong relationship with TCBG, selling used cars on its behalf at Donington and Chelmsford. All used car volumes will move to Aston Barclay by the end of 2018, with an increased focus on building the TCBG brand further with buyers across the UK.
Marley said: ‘We have had a great journey over the past few years in launching and building the business.
‘Becoming part of the Aston Barclay family will provide further support and investment to speed up that growth, and for our brand to become a household name with consumers.’
Neil Hodson, Aston Barclay’s chief executive, said: ‘Our senior management team have known and worked with TCBG for several years and we have admired what they have achieved while up against bigger corporate competitors.
‘The acquisition is a perfect fit for the group as it provides us with extra volume and access to new technology which we can offer to dealer and vendor customers. We will grow the business on a national basis over the coming years.
‘Our new Wakefield Mega Centre will immediately become a dynamic place to work as the TCBG team of 30 joins the 40 staff from our Leeds auction. With 75,000 square feet of auction and office space, we have plenty of capacity available for further growth.’
Pictured at top are Neil Hodson, left, and Tom Marley