G3 Vehicle Auctions has acquired Cazoo Wholesale

G3 has acted swiftly to secure the premises, land and existing experienced remarketing team from Cazoo along with other software assets, to add to their established G3 Castleford flagship centre, which was purpose-built and opened in 2021. The expansion will see G3 increase total employees to over 140 and instantly doubles the capacity for vehicles.

G3 expect their new Bedford marketplace to be break even by the end of 2024, with the ultimate aim to offer in excess of 30,000 vehicles per annum, with a mix of existing and new vendors contributing their vehicles to used car dealers, both nationally and in this new region.

The purchase of this strategically located facility creates a secure 14-acre site in the South Midlands area, which is ideally located just 45 minutes from the M25 and will be fully operational overnight with a the newly formed sales schedule being released shortly.

As well as a new auction footprint in a new area of the UK, G3 Bedford will become an additional drop-off centre for their network of finance house partners, whilst also offering onsite de-fleet and refurbishment facilities with many of the incumbent team having extensive experience in this sector, as well as offering secure fleet and in-life storage options. G3 intend to relocate its existing Pool Fleet operation to this new facility due to its strategic location and range of facilities and will also look to expand and focus on existing relationships within this sector.

The site currently holds the EVA standards which will allow G3 Bedford to become an EV-focused auction centre, servicing the ever-growing fleet disposal needs for electric and hybrid vehicles in the UK, a major focus of the G3 business over the coming years.

G3’s Co-Owner Matt Dale commented: “This year is the 15th Anniversary of G3 and after the recent development of our G3 Castleford centre and the uptake it has had in the industry, we have been actively seeking the right opportunity to extend our network across the UK. We are excited to onboard a group of experienced individuals to the team and collectively drive the service we’ve become known for at G3 into a new region, with further expansion opportunities currently in the pipeline.

The new centre will undergo a significant seven-figure investment over the next 12-months to align its facilities and reflect the existing G3 brand and design ethos, whilst being fully operational to service our customer needs.

We are proud to have become a trusted partner for many vendors across the industry and we cannot wait to offer the G3 Bedford facilities to our portfolio to remarket more vehicles to a new customer base and dispose of their assets efficiently.

Similarly, we have a well-established marketplace model that offers buyers from across the country a platform to source all types of cars, LCVs, WAVs and motorbikes from a range of different vendors. Now with the addition of G3 Bedford, this facility will provide us with the capacity to offer over 80,000 vehicles per annum to dealerships of all shapes and sizes to source stock from. We feel this makes the G3 group the ‘go-to’ truly independent remarketing provider in the UK.”

G3 Vehicle Auctions has a 14-acre remarketing centre in Castleford supported by a network of 30+ storage locations. They offer vehicles from fleet, finance, dealer, lease and rental companies such as Motability Operations, Europcar, Car Shop/Sytner, Car Buying Crew, Oodle Car Finance, John Clark Motor Group, First Response Finance and many more.

G3 were advised on the transaction by Duncan Firman of Leeds based law firm Gordons LLP. Firman added; “It was a pleasure to support the G3 team throughout the deal from start to finish, and it’s great to have helped get this over the line. The addition of a new remarketing centre in Bedford will be pivotal for G3, and the expansion represents a fundamental step in allowing the management team to continue to drive the business forward”.