G3 Vehicle Auctions has acquired the Cazoo Wholesale business, just a day after the online car sales operation announced it was going into administration.
The acquisition of the business, which includes a 14-acre auction centre in Bedford and all Cazoo employees located at the site, will enable the creation of a new G3 Bedford auction facility as part of the company’s ongoing UK expansion plan. it will complement the purpose-built G3 Castleford auction centre which opened in 2021.
The expansion will see G3 increase its total employees to more than 140 and instantly doubles the seller’s capacity for vehicles. The new Bedford marketplace is expected to break even by the end of 2024, the ultimate aim being to offer in excess of 30,000 vehicles per annum.
As well as adding an auction footprint in a strategic location just 45 minutes from the M25, G3 Bedford will become an additional drop-off centre for the firm’s network of finance house partners, whilst also offering onsite de-fleet and refurbishment facilities – many of the incumbent team having extensive experience in this sector. Secure fleet and in-life storage options will also be on offer.
G3 intends to relocate its existing Pool Fleet operation to the new facility due to its location and range of facilities – the site currently holds the EVA standards which will allow G3 Bedford to become an EV-focused auction centre, servicing the ever-growing fleet disposal needs for electric and hybrid vehicles in the UK. This is expected to become a major focus of the G3 business over the coming years.
The new centre will undergo a significant seven-figure investment over the next 12-months to align its facilities to the existing G3 brand and design ethos – it will remain fully operational during this period.
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