Muckle supports Aramis Group in accelerated UK motor trade investment

French company Aramis Group, a European leader in selling used cars online, has announced its entry into the UK market with the purchase of a majority stake in pioneering used car platform Motor Depot Ltd.

The deal, which includes the online brands CarSupermarket.com and MotorDepot.co.uk, will also see Aramis take control of 12 customer centres across the UK.

Guillaume Paoli, co-founder and co-CEO of Aramis Group said it was the right time to enter the UK market: “This transaction is the first of its kind we’ve made in the UK and represents an exciting new chapter for Aramis Group. The UK is the second-largest used car market in Europe and we’re confident this investment is key to accelerating our expansion strategy.

“With nearly 7 million used cars sold in 2020, the UK used-car market shows no sign of slowing down. This acquisition will allow us to exceed our one-billion-euro revenue milestone and become the preferred online platform to buy a used car in Europe.”

The purchase of Motor Depot Ltd is part of a larger acquisition strategy which saw the purchase of Clicars in Spain in 2017 and Cardoen in Belgium in 2018. Stellantis, the carmaker created by the merger of France’s Groupe PSA and Italian American group Fiat Chrysler, has held a controlling interest in Aramis Group since 2016.

Aramis Group were supported in the negotiation and delivery of this strategic acquisition by leading North East law firm Muckle LLP.  The driving force behind the legal elements were partners Matthew Walsh, Mike Spetch and Gail Bennett who delivered the deal to a tight timescale, liaising with multiple parties at the height of lockdown.

Matthew Walsh, corporate partner at Muckle, said: “This deal is great news for the North, representing a significant investment by a dynamic and disruptive company which has the backing of one of the largest carmakers in the world. It brings together two established businesses with many years’ experience in the used-car sector, giving Aramis Group the opportunity to realise their growth plans and further improve the customer experience they deliver.”

This month Aramis Group launched its initial public offering on Euronext Paris, with the objective of supporting its development and accelerating its growth across Europe.

Read more posts

NEWCASTLE COLLEGE OPENING DOORS FOR…

20.05.2022

Newcastle College is looking to help North East start-ups and SMEs grow their network and take the next step in their business journey. The College’s Enterprise Hub, based at its…

Read more

Graduates Benefit from The University…

20.05.2022

First launched in 2011, the University of Sunderland received European Regional Development Funding (ERDF) to run its Graduate Internship Scheme, connecting graduate talent with regional, Small to Medium Enterprises. It has…

Read more

Research shows the North East…

20.05.2022

The North East has the most innovative businesses in the UK, the latest HMRC data shows. More businesses are claiming R&D tax relief in the North East than anywhere else…

Read more

Catch the latest @north_biz In Conversation with Kevin Robertson, Head of Security Operations at @aspirets youtube.com/watch?v=jXIWoY…

Join our
mailing list