Automotive service and remarketing company Manheim has taken a controlling stake in digital business Kingfisher Systems (Scotland) Limited.
Scottish firm Kingfisher has a strong existing relationship with Manheim and worked closely with the remarketing specialist to create Simulcast. This award-winning online auction platform included the use of responsive technology, making it suitable for a range of mobile devices.
Glasgow-based Kingfisher will continue to trade independently following the deal, with products that include Auction Manager, running in more than 60 motor auctions in the UK and overseas.
"Clearly, as the pace of technological change continues to accelerate in the automotive aftermarket, the need to invest in people, know-how and systems become an increasingly important strategic issue," explains John Bailey, chief executive officer of Manheim Europe.
He continues: "This investment into Kingfisher creates a ‘triple-win' situation for our customers, Kingfisher and Manheim alike. While Kingfisher benefits from new financial investment to power its R&D, Manheim is able to rapidly deploy a range of exciting technologies to benefit sellers and buyers in the used vehicle market. Most importantly, our fleet, dealer and manufacturer customers will continue to be delighted by our ongoing new product development programme, improving process efficiencies in remarketing."
Following the deal, the company will continue to be led by its current management team, headed up by Ian Fisher, Kingfisher's managing director.
This latest deal follows Manheim's acquisition of EVS Online Auctions, the digitally powered truck and trailer auction business in May 2013.