Peter Vardy has sold online car retailing solution SilverBullet to Keyloop for an undisclosed sum.
Vardy, who is also CEO of dealer group Peter Vardy, founded SilverBullet with a minority shareholding by media company MTC.
The platform allows dealers to use features such as online finance and part-exchange valuations tools, and therefore create an end-to-end sales process on their website.
Vardy said: ‘I am thrilled that the SilverBullet team will now form part of the Keyloop family and increase their presence here in Scotland.
‘I am very proud that we have grown such a successful business in such a short timeframe and joining Keyloop represents a great next step for our company and colleagues.
‘I would like to thank all the team for their hard work and dedication. With Keyloop’s support, I am confident that SilverBullet will be able to realise new opportunities and levels of success.’
This is Keyloop’s fifth acquisition since March 2021, following Rapid RTC, enquiryMAX, MotorDocs and FISC.
It will also increase Keyloop’s footprint in Scotland, where it is investing in new Glasgow offices where SilverBullet is based.
Tom Kilroy, CEO of Keyloop, said: ‘I am delighted to welcome SilverBullet into Keyloop.
‘As we know, and as our research proves, consumers today want exceptional experiences in all their retail interactions, especially when buying their next vehicle.
‘For dealers that means making the car buying process as frictionless as possible, enabling consumers to move seamlessly between online and in-person interactions as best suits their needs.’
He added: ‘The solutions offered by SilverBullet will enable dealers to deliver the personalised online purchase journey today’s car buyer demands.
‘Our portfolio of products is being developed to ensure we deliver this, and the purchase of SilverBullet is an important addition to our capabilities.’