Consortium acquires Scottish motor auctions in multi million pound deal

A consortium of investors, led by Bob Anderson and Kevin Bann, has purchased Scottish Motor Auctions Limited in a multi million pound acquisition with funding from Alliance & Leicester Commercial Bank.

Founded in 1976, Scottish Motor Auctions is the largest motor auction group in Scotland and the third largest in the UK, boasting 5 auction sites across Scotland and the North East of England – Glasgow (joint venture with Manheim), Livingston, Kinross, Aberdeen, Newcastle-upon-Tyne.

Commenting on the deal, Bob Anderson, Managing Director of Scottish Motor Auctions said:“We are delighted to be the proud owners of Scottish Motor Auctions Limited (SMA). This is our first acquisition in this sector and we are looking forward to building on its success. As the largest motor auction group in the north, SMA is in a great position to expand and ultimately become the leading motor auction group in the UK.”

Bob Anderson and Kevin Bann are no strangers to the automotive sector, having founded Direct Car Finance in 1996, the first independent sub-prime automotive lender in the UK.

Scott Johnston, Senior Relationship Lending Manager at Alliance & Leicester Commercial Bank said:“This is a great acquisition with massive potential. We are delighted to be funding the deal and I look forward to working closely with Bob and Kevin as they expand and develop the business further.”

Bob Anderson added:“The support of Alliance & Leicester Commercial Bank has been invaluable in securing this deal. In addition, the team of professional advisors, including, Drivas & Jonas, Grant Thornton, Dundas & Wilson and Todds Murray, helped the transaction to run very smoothly. I look forward to continuing our close relationship with the bank as we build the business and move forward with our expansion plans.”