Freeths advises on the sale of The Car Buying Group
The Leeds Corporate team of Freeths have advised the shareholders of the The Car Buying Group (TCBG) (a fast-growing independent consumer car buying company, which sells over 10,000 cars nationwide on behalf of car owners) on its sale to Aston Barclay.
Aston Barclay’s new Wakefield Mega Centre will become home to TCBG, with current CEO Tom Marley moving his 30-strong team to the 18-acre site when it opens in quarter four. Tom 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 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.
Dahren Naidoo and Andy Francey led the Freeths team supported by Claire Boyce and Megan Atack. Tom Marley, TCBG’s CEO, commented “We were delighted with the legal advice provided by the Freeths team – always pragmatic and commercial and taking full account of our needs given the importance of this transaction”.
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