Used car group Motor Depot sells majority stake to Stellantis-owned firm

Time 4:56 pm, March 30, 2021’s holding company Motor Depot Ltd has sold a majority stake to the Stellantis-owned Aramis Group.

The European online sales group, whose portfolio also includes the brands Aramisauto in France, Clicars in Spain and Cardoen in Belgium, said it would use its expertise to accelerate’s growth.

The announcement didn’t say how big its stake was or how much it cost, and Car Dealer was told by Aramis that it did not disclose information relating to the size of stakes.

However, the deal has created a group generating more than a billion euros in revenue as Aramis aims to be the preferred European online platform to buy a used car.

Hull-based Motor Depot Ltd was founded in 2001 by Phil Wilkinson, who has retained a stake in the company.

It sold some 20,000 cars during the last fiscal year via its and online brands and 12-strong customer centre network, making a revenue figure in excess of £220m.

Wilkinson said: ’I am very pleased that is joining Aramis Group.

‘This transaction is first and foremost the result of entrepreneurs, who share the same values and who are moving forward with the same enthusiasm and vision for the future, coming together.

‘Aramis Group is the ideal partner to support our growth ambitions and to further improve the customer experience we deliver.’

Guillaume Paoli and Nicolas Chartier, co-founders and co-chief executives of Aramis Group, said: ‘This transaction is an exciting new chapter for Aramis Group.

‘We have enormous respect for what Phil and his team have accomplished over the years, building a fast-growing entrepreneurial success story.

‘With joining us, we are accelerating our expansion strategy by entering the second-largest used car market in Europe and exceeding the one-billion-euro revenue milestone.

‘Our combined know-how will help further improve our operational excellence and our expertise in car financing, and more broadly deliver synergies across the group.

‘We look forward to working with the team on our journey to be the preferred online platform to buy a used car in Europe.’

John Bowman's avatar

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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