Stobart Group has sold its automotive after-sales division, Stobart Vehicle Services, to Paragon Group for an undisclosed sum.
The division, which was part of Autologic prior to its purchase by Stobart in August 2012, provides car manufacturers and dealerships with services ranging from new car preparation to customisation.
As part of the deal Paragon will take on former Autologic sites in Corby, Portbury, Doncaster and five manufacturer locations and said it would be “welcoming 500 new staff”. The division will rebrand as Paragon Vehicle Services.
Stephen Hucklesby, chief executive officer at Paragon Group, said: “This acquisition marks a major milestone for Paragon and consolidates our position as the UK’s market leader in vehicle processing and fleet management.
“Paragon Vehicle Services is an excellent fit with Paragon and underlines our group strategy to expand into complementary service offerings by taking us into new areas of vehicle processing and giving us a focus on port and new vehicle processing excluding transport.”
Earlier today (21 January) it was revealed that former Autologic chief executive Avril Palmer-Baunack had been appointed as executive chairman of Stobart Group after Rodney Baker-Bates stepped down.
