ASTON Barclay has secured a multi-million pound investment from Rutland Partners after a management buyout, paving the way for what it calls ‘a significant investment’ in developing staff, existing and new auction centres and new IT technology.
The buyout was led by new chief executive Neil Hodson, who brings with him more than 25 years’ experience, following stints at Manheim, HPI and Experian. He will shape the national independent vehicle remarketing provider’s vision for short- and long-term growth.
Glenn and David Scarborough, formerly group managing director and commercial director respectively, will stay company shareholders as non-executive directors. The continued investment by the Scarborough family cements Aston Barclay’s family-run ethos and values, helping it to continue its personal service for buyers and vendors.
Laurence Vaughan is also joining the board and investing as non-executive chairman. He was previously chief executive and now non-executive chairman of Sytner Group.
A new 18-acre Super Centre will be opened at Donington Park’s Engine Room exhibition space to become one of the largest state-of-the-art auctions in the country, with space for 350 to 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 be open in the last quarter of 2017, with further network expansion planned.
Meanwhile, Aston Barclay’s Leeds centre has now been completely redeveloped, aligning it aesthetically with its Chelmsford, Prees Heath and Westbury centres that have seen a collective £1.5m group investment in the past two years. It is also in the early stages of expanding its Prees Heath auction centre in Shropshire, buying an additional 6.5 acres of land for future development.
Aston Barclay has also restructured its senior management team, with Martin Potter joining the board as group operations director. He is supported by national operations manager Brett Henderson, and a new sales director will join 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, creating a seamless journey from the physical auction hall to the digital space.
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.’
Glenn Scarborough said: ‘We are pleased to welcome Neil 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 the support and the investment will enable Aston Barclay to exploit the opportunities for growth that the market has to offer.’
Oliver Jones, a partner at Rutland, 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.’
Pictured at top from left: Aston Barclay non-executive director Glenn Scarborough, new Aston Barclay chief executive Neil Hodson and Oliver Jones from Rutland Partners shake hands on the deal
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