West Yorkshire motor startup gears up with multi-million-pound investment

A Yorkshire-based motor business has received a multi-million-pound investment to help boost its growth and expansion plans.

Launched in 2014, The Car Buying Group has received the combined investment package from The Greenhouse Group.

The investment will enable the Wakefield and Bradford-based business increase its presence and vehicle purchases, expand its overall offering in other aspects of the business and create an increase in turnover three times in year one and again in year two.

Tom Marley, The Car Buying Group CEO, plans to use the funding to increase market share and corporate penetration alongside the consumer offering over the coming 12 months.

The business, which currently has 85 drop off locations across the UK and a national collection service, will double the work force in the next six months and again in the following year creating a large number of jobs in the Yorkshire area.

The funding will also enable The Car Buying Group to accelerate its growth forecasts, allowing the start-up business to be supported by some of Greenhouse Group’s resources.

Tom Marley said: “We can clearly support each other in our growth strategies offering our customers a fully-rounded service, it is the perfect fit.

“It is an exciting time for us as we share a vision to grow the brand - we are like-minded individuals and it was clear from the first meeting that we clicked. Their experience in the motor industry is fantastic and I believe we can learn so much working together.”

Kerry Finnon, joint chief executive of The Greenhouse Group added: “We’re really excited to be joining forces with a company that’s at the cutting edge of what is a rapidly expanding sector.

“Our commitment to innovation and great customer service makes this a perfect match, and we’re looking forward to working together.”

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