Our Corporate Finance team recently advised the shareholders of G3 Remarketing Limited (G3) on its recent sale to America’s Auto Auction Group (AAAG).
Founded in 2009, G3 is one of the UK’s leading independent automotive remarketing businesses. Headquartered in Castleford, West Yorkshire, with an additional site in Bedford, G3 has transformed the remarketing and auction experience. Modernising and innovating with auctions held through both a physical and digital marketplace.
AAAG is one of the USA’s premier auto auction groups with sites across 21 states. They provide the highest quality service and operations execution for dealers and institutional customers. This deal represents their first acquisition outside of the USA. G3 will act as a platform investment as they look to expand their footprint across the UK.
G3 is known for providing exceptional customer service, together with competitive prices and a transparent buying process for all dealers. As part of the America’s group, G3 will benefit from greater financial backing to improve the client experience, infrastructure and operational capabilities, enabling accelerated growth across the UK.
As part of the acquisition, AAAG is committed to preserving the culture, service, and processes that have driven G3’s success. Customers and vendors can expect the same trusted team and experience they know today, with the auction remaining under the G3 Vehicle Auction name.
The transaction further reinforces Cooper Parry’s reputation as a leading advisor in the Automotive sector.
Matthew Dale, Owner of G3, said:
“It became apparent as soon as we engaged with America’s Auto Auction that they would be excellent custodians of the company. It was critical that the values, culture and long-term vision aligned with our future ambition for G3. This deal will provide a multitude of personal development opportunities for the existing team and further bolster G3’s position as the UK’s go-to remarketing partner for both vendors and purchasers. We are immensely proud of the sustained, profitable growth of G3 since its inception and are equally confident the business will continue to flourish under the stewardship of the existing senior management team and under America’s Auto Auctions wider guidance”
Robert Argyle, Joint Managing Director of G3, said:
“Selling a business is a complex and often demanding process, but we were delighted with the support provided by Cooper Parry throughout. The team was consistently approachable and responsive, building strong relationships with us while offering commercially astute advice at every stage. Their guidance was instrumental in helping us navigate the inevitable challenges that arise in transactions of this nature. I would have no hesitation in recommending Cooper Parry to other business owners considering a sale.”
Peter Williams, CP Corporate Finance Partner, commented:
“We are delighted to have advised the shareholders of G3 on this strategic, cross-border transaction, building on our deep automotive M&A expertise. Having originated the opportunity and led the process throughout, we leveraged our deep sector knowledge to deliver a strong outcome for all parties involved.
This transaction represents an important milestone for both businesses, and we look forward to seeing G3 continue to grow as the platform investment for AAAG in the UK vehicle auctioneering sector.”
Other members of the Corporate Finance team who worked on this deal included Alex Ydlibi, Jack Storey, and Adam Virag.
