Aston Barclay has gone through a management buyout (MBO), with support from a multi-million pound investment from Rutland Partners.
The MBO was led by new chief executive officer Neil Hodson – who joined the company after stints at HPI, Manheim and Experian.
Glenn and David Scarborough, formerly group managing director and commercial director respectively, will both remain company shareholders as non-executive directors.
Hodson is among a number of new senior staff at the company.
Laurence Vaughan has joined the board as non-executive chairman. Vaughan is also non-executive chairman of Sytner Group, having previously served as chief executive officer there.
Martin Potter has joined the board, and will operate as group operation director, to be supported by national operations manager Brett Henderson.
Stewart Ford also joined the company from cap hpi as group IT director, as the company looks to invest in its digital strategy, following the Rutlands investment.
Hodson said: 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.”
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.”
Donington Park Super Centre
Among the more immediate impacts of the MBO and investment will be a new 18-acre site at Donington Park, which Aston Barclay announced simultaneously to the MBO.
The site will be based in the Park’s Engine Room exhibition space, and will serve as Aston Barclay’s central hub for all remarketing operations, as well as being the home to a new buyer services and account management team. It will be large enough to house up to 400 cars under one roof.
The site will be open in Q4 2017, with further network expansion planned in the future.