Muckle supports Aramis Group in accelerated UK motor trade investment
Lawyers in our specialist Corporate and Real Estate teams helped French company Aramis Group buy a majority stake in UK omni-channel used-car company 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 North and Midlands and represents a major overseas investment in the UK.
Driving UK growth
Guillaume Paoli, co-founder and co-CEO of Aramis Group said it was the right time to enter the UK market: “This UK transaction is the first 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 car sold in 2020, the UK used-car market shows no sign of slowing down. This acquisition will allow us to exceed our €1 billion EUR revenue milestone and become the preferred online platform to buy a used car in Europe.”
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. The purchase of Motor Depot Ltd is part of an acquisition strategy which saw the purchase of Clicars in Spain in 2017 and Cardoen in Belgium in 2018.
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.”
Providing legal speed
Aramis Group were supported on this deal with legal advice from partners Matthew Walsh and Mike Spetch – lawyers in our award-winning corporate team – while real estate partner Gail Bennett advised on matters relating to the 14 sites included in the acquisition.
Guillaume Paoli said: “The team at Muckle provided us with round the clock assistance to get this deal across the line, to tight deadlines. They were an integral part of our team to ensure the success of the acquisition.”
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.
For help or advice in this area please contact Matthew Walsh on 0191 211 7893 or email [email protected]