05 Jun 2017 Rutland Invests in Aston Barclay
Rutland Partners is pleased to announce that on 5 June 2017 it completed an investment in Aston Barclay.
Aston Barclay is the UK’s leading independent car auction group, currently operating from four sites in the UK. Headquartered in Chelmsford, the business provides vehicle remarketing services to fleet and dealership vendors and has been owned by the Scarborough family since 1984.
Aston Barclay has invested heavily in recent years in both its auction sites and IT systems. This investment has delivered strong growth, as well as establishing a market reputation for high levels of customer service.
Neil Hodson, formerly of HPI and Manheim, has recently joined as CEO to oversee the next phase of Aston Barclay’s development, which is centred around a new auction site at Donington Park in the East Midlands. This superbly located site will initially utilise six acres when it opens in quarter four 2017, growing to 18-acres in 2018. The site offers a sizeable covered auction area and will enable Aston Barclay to offer market leading levels of service for both vendors and buyers.
Further investment in IT, including a range of digital initiatives, will also enable the group to shape the future of auctions for both buyers and vendors.
The Scarborough family will remain on the Board and continue to be significant shareholders in the business. Laurence Vaughan is also joining the Board and investing as non-executive Chairman. Laurence has extensive automotive sector experience, initially as CEO and currently as non-executive Chairman of Sytner Group, a £5bn turnover dealership group in the UK.
Aston Barclay is the fifth investment from Rutland Fund III. The transaction was led on behalf of Rutland by Oliver Jones, Tristan Craddock and Jason Birt.
Oliver Jones, 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 Hodson and his team in delivering this next phase of growth.”
Neil Hodson, CEO of Aston Barclay, said: “Aston Barclay is a great business with some great people, sites and some excellent customers. Our partnership with Rutland, along with the Scarborough family’s continued investment in the business, will enable us to grow our auction network and the range of services we offer to our customers.”
Glenn Scarborough, Aston Barclay Director, said: “We are delighted to welcome Rutland, Neil and his management team as investors in Aston Barclay. These are exciting times for the remarketing industry and we are confident the support and expertise of Rutland will enable Aston Barclay to exploit the opportunities for growth that the market has to offer.”