Aston Barclay acquires The Car Buying Group
TCBG was founded in 2014 and sells more than 10,000 cars nationwide on behalf of car owners while interacting with tens of thousands more through technology, including an online vehicle pricing tool.
The deal will see TCBG – including CEO Tom Marley – transfer to Aston Barclay’s new Wakefield Mega Centre 18-acre site when it opens in quarter four. Marley will continue to run the business with his current management team and there are plans to double the size of the company and its workforce – which currently numbers 30 – over the coming years.
Aston Barclay already has a strong relationship with TCBG, selling used cars on its behalf at Donington and Chelmsford. All used car volumes will move to Aston Barclay by the end of 2018, with an increased focus on further building the TCBG brand with buyers across the UK.
In a statement, Aston Barclay said the acquisition would enable it to expand the products and services it offers to its customers, while TCBG will benefit from the group’s IT reputation for launching new technologies designed and developed in-house.
“Our senior management team have known and worked with TCBG for several years and we have admired what they have achieved whilst up against bigger corporate competitors,” explained Neil Hodson, Aston Barclay’s CEO.
“The acquisition is a perfect fit for the group as it provides us with extra volume and access to new technology which we can offer to dealer and vendor customers. We will grow the business on a national basis over the coming years.”