The FCA has given its approval to Opteven’s acquisition of The WMS Group. The deal was officially signed on 8 January.
Opteven already has an operational presence in UK, managing the approved used warranty programme on behalf of Volkswagen Financial Services UK. The group has ambitions to continue to grow their presence throughout Europe.
WMS managing director John Colinswood will remain in the role and Martin Quail, Opteven’s CEO for northern Europe take the CEO role for the UK. The WMS brand will be retained.
Colinswood said: “As I have said before, for our customers and staff it is ´business as usual´. We are still incredibly passionate about helping our dealer partners to provide the very best warranty products and aftersales support to their customers.
“When the original announcement was made last September, we had already started the process of restructuring our business, which included investing in our IT platform and encouraging new talented people to join us on our growth journey.
“All of which has already benefited our dealers and their customers alike. With Opteven’s support we plan to create new and exciting products to continually support our dealer partners.
“In addition, Opteven now also provides incredible career and development opportunities to the team at WMS. Overall, I’m extremely delighted with this news.”
Quail said: “We´re thrilled that the great people within WMS Group have now joined the Opteven family.
“Over the past few months we have been continually impressed by the WMS Group during this process. The official signing today is the culmination of many months of hard work by both parties.
“We are really looking forward to what will be a truly exciting future for both organisations. Opteven Group will invest heavily in WMS Group and its people to ensure this brilliant business, full of talented people, continues to flourish and deliver a fantastic service to UK dealers and their customers.”