Tue, 19 Oct 2021 | BUSINESS SALE
Car retailer Cazoo has announced the acquisition of online commercial vehicle retailer Vans365 for £6.5 million. According to a statement from Cazoo, Vans365 has generated 2021 revenue of £14 million due to the UK’s strong commercial vehicle rental market.
Cazoo said that this revenue was generated with an EBITDA margin of over 9 per cent, which would put the deal value at slightly over a 5x multiple of the company’s EBITDA. The deal will be paid for entirely in cash and is subject to FCA approval, which is expected over the coming weeks.
Based in Bristol and employing a strong UK team combining specialist customer service providers and in-house technicians, Vans365 is a major player in the UK’s booming commercial vehicles market, buying and selling hundreds of vans on a monthly basis
Following the acquisition, this business will be combined with Cazoo’s platform and brand, enhancing the buying firm’s staff as well as its customer offering. Cazoo also describes the deal as a key part of its planned expansion into the online commercial vehicles market later this year.
Cazoo founder and CEO Alex Chesterman said: "The market for commercial vehicles is worth £16bn annually, with more than one million vans sold each year in the UK, which expands our addressable market and is a natural product extension for us.”
"The acquisition of Vans365 will accelerate our planned launch of buying and selling commercial vehicles online later this year and will enhance both our customer proposition and team and I look forward to welcoming the Vans365 team to Cazoo."
Vans365 MD Jordan Franklin commented: "Like Cazoo, customer obsession is at the heart of Vans365's success and we’re delighted to be joining the Cazoo team to take our online proposition to the next level.”
"We have built strong supply relationships and achieved excellent customer feedback with a great team who have strong sector expertise and are looking forward to joining forces with Cazoo."
Find businesses for sale here.
If you are looking for an exit, we can help!
The company is a retailer of used cars, operating a popular e-commerce website that attracts customers nationwide. The business sells high-quality used vehicles, offering a comprehensive range of popular makes and models, and all its vehicles are ful...
LEASEHOLD
Established business with nationwide reputation. A client base offering extensive market-leading product range from well-fitted industrial warehouse, as well as office premises in convenient commercial location.
FREEHOLD
Very established craft bakery with impressive reputation and regular customer base offering wide range of premium quality products.
LEASEHOLD
28
|
Mar
|
Vehicle upcycling group falls into administration | ADMINISTRATION
Lunaz Group Limited, a vehicle electrification and upcycling...
28
|
Mar
|
Food service business acquired at more than 10x profits | BUSINESS SALE
Total Foodservice, a wholesale catering supplies business, h...
27
|
Mar
|
Acquisitive IT firm makes latest deal after securing fresh funding | BUSINESS SALE
Everything Tech Group, an acquisitive Manchester-based manag...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.