Aston Barclay has been sold to Constellation Automotive Group (CAG), which owns rival BCA, for an undisclosed sum.

Constellation Automotive Group plans to invest and develop Aston Barclay further

The deal, which includes Aston Barclay’s subsidiary The Car Buying Group, “aims to secure the longer-term viability of the Aston Barclay network of centres” and prevent further closures.

It follows “difficult market conditions” that had seen the remarketing firm close its Leeds auction site in January.

Constellation Automotive Group said it would work to build the business through further investment, along with incremental volume from the group’s growing WeBuyAnyCar business. The group also owns Cinch and Marshall Motor Group.

Aston Barclay was founded in 1985 and underwent a management buyout in 2017 that injected a multi-million pound investment from Rutland Partners. It operates a range of remarketing services, physical and online, and recently won deals with Hedin Automotive, Liquid Fleet and Startline Motor Finance.

Greg MacLeod, chairman of Aston Barclay Group, said the acquisition by CAG was a “logical next step for the business”.

He added: “Access to the unparalleled size, scale and expertise of BCA will provide great opportunities for colleagues, and also for vendors, buyers and consumers.”

MacLeod went on: “It has been my pleasure to work with the team at Aston Barclay Remarketing and The Car Buying Group over the last five years under the ownership of Rutland Partners. Rutland has been a steadfast and committed owner, driving the group forward through sometimes challenging times.

Oliver Jones, partner at Rutland, said: “We are pleased to have secured the sale of Aston Barclay to CAG, and would like to thank the entire team at Aston Barclay for their hard work and commitment to the business. CAG is a strong buyer for the business, and I wish them every success.”