G3 Vehicle Auctions has acquired the Cazoo Wholesale business to create a new ‘G3 Bedford’ auction facility which will undergo a ‘seven-figure’ investment over the next 12 months.
The centre will be fully operational with a newly formed sales schedule being released soon, continuing operations as it undergoes development.
G3 has secured the premises, land and existing experienced remarketing team from Cazoo, and software assets to add to their G3 Castleford flagship centre. G3 also intends to relocate its existing Pool Fleet operation to this facility.
The new Bedford site will be an additional drop-off centre for G3’s network of finance house partners, offer onsite de-fleet and refurbishment facilities, offering secure fleet and offer in-life storage options.
As a result of this transaction, G3 has increased total employees to more than 140 and doubled its capacity for vehicles. It aims to offer over 30,000 vehicles each year, with existing and new vendors contributing vehicles to used car dealers.
G3 was advised by Duncan Firman of Leeds based law firm Gordons LLP.
Matt Dale, G3’s Co-Owner, said: “This year is the 15th Anniversary of G3 and after the recent development of our G3 Castleford centre and the uptake it has had in the industry, we have been actively seeking the right opportunity to extend our network across the UK.
“We are excited to onboard a group of experienced individuals to the team and collectively drive the service we’ve become known for at G3 into a new region, with further expansion opportunities currently in the pipeline.”