Paragon Group has announced the acquisition of Stobart Vehicle Services from Stobart Group plc. Previously the vehicle services division of Autologic, the division will be immediately renamed Paragon Vehicle Services with Stobart Group retaining all of the Stobart brands.
Paragon Vehicle Services Ltd will support automotive manufacturers and retailers with a range of core and specialist vehicle management services including new car preparation, customisation, end of line enhancement and the running of port operations. As part of the deal, Paragon will operate eight new sites in total with sites at Corby, Portbury, Doncaster and five manufacturer locations welcoming 500 new staff.
Stephen Hucklesby, who becomes Chief Executive Officer for the Paragon Group, comments: “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. Coupled with this, we will be expanding our geographical network, giving us an important presence in the North East and South West.”
“This is a significant development for our business which will ultimately benefit our customers. We are acquiring a well run and profitable business with a solid team already in place to hit the ground running. We welcome our new colleagues and look forward to working together as we plan for the long-term future of Paragon Group.”
The new Paragon Vehicle Services division will be led by Hucklesby as he oversees its integration into the Paragon Group over the course of the next year.