Thu, 20 Feb 2020 | BUSINESS SALE
Online used car service Heycar has purchased the independent motoring advice website HonestJohn.co.uk from administrators for an undisclosed sum.
Peterborough-based HonestJohn.co.uk went into administration last month after encountering cash flow difficulties, appointing Miles Needham and Simon Carvill-Biggs of advisory firm FRP.
Needham and Carvill-Biggs have subsequently led the sale to Heycar. The business was sold as a going concern and no jobs were lost.
Heycar CEO Mat Moakes said that the deal would help forward its aim of improving “trust and transparency for motorists and the industry.”
HonestJohn.co.uk has been operating for around two decades and has millions of site visitors. Heycar was launched in 2019 and has already amassed over 170,000 cars on its site, as well as 3,500 franchised dealers selling via their platform.
Moakes added that: “The independence and strong reputation of HonestJohn.co.uk has been earned through the years and brings great value – just some of the many reasons that this was such an attractive opportunity.
“We will maintain this independence through the formation of a clear editorial code between the two brands, continuing the impartial tone HonestJohn.co.uk’s millions of website visitors and tens of thousands of newsletter subscribers expect. Users of the Honest John forum will not notice any difference.”
HonestJohn.co.uk’s most recent accounts, for the year ending December 31 2018, show it holding assets of over £300,000, with retained earnings for the year at nearly £67,000.
Over the past 15 years, our client has built a business with a strong brand and reputation offering high end solutions for their customers kitchen and bathroom needs. The business also offers a design and supply only service for retail clients who al...
An exclusive chance to acquire a network of 17 well-established convenience and off-licence stores located in the North of England.
This long-established, family-run butchers and bakery, operating from the same location for 130 years, offers a blend of history, reliability, and modern appeal, serving both retail customers and sectors like hospitality and education.
FREEHOLD
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.