Aston Barclay Group has been the subject of a multi-million pound management buyout led by new Chief Executive Officer, Neil Hodson.
The buyout, which was funded by Rutland Partners, will result in a new management structured. Laurence Vaughan is joining the Board and investing as non-executive Chairman. Laurence was previously CEO and now non-executive chairman of Sytner Group.
Martin Potter is joining the board in the position of group operations director. Martin is supported by national operations manager Brett Henderson, while a new sales director will be joining the board in the near future. Finally, Stewart Ford has also been appointed as group IT director following a successful career at CAP HPi.
The family aspect of the business will remain intact with Glenn and David Scarborough, formerly group managing director and commercial director respectively, remaining as non-executive directors and company shareholders.
The remarketing business has announced plans to develop the business’ physical portfolio with a new 18-acre Super Centre at Donington Park to go live in Q4 2017. The facility, located at Donington Park’s Engine Room exhibition space, will accommodate 350-400 cars under one roof. The business is also in the early stages of expanding its Prees Heath auction centre in Shropshire, purchasing an additional 6.5 acres of land for future development.
Neil Hodson, CEO of Aston Barclay, commented: “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.”
“With Glenn and David staying on-board, Aston Barclay’s family-run approach will remain at the heart of our offering for customers – a friendly, consultative and personal service with a board and senior management team always on hand to work closely with our buyer and vendor partners.”
Aston Barclay’s 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 of Rutland Partners 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.”
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