CAMDEN Motors is to go for growth after being sold to a management team led by managing director Paul Dunkley. Parent company Barclays Bank has been reluctant to expand its car retailing operation but the two companies will continue their close relationship.

Camden is expected to turn in profits of £3.5 million on turnover of £400 million this year and the MBO is believed to be worth around £35 million. With nine dealerships centred around Leighton Buzzard, Camden is the 15th largest dealer group in the country. It will continue to supply all Barclays' company cars. Barclays will however retain ownership of the Car Shop Internet and Teletext used car retailing system established by Camden as a standalone business.

Former Peugeot chief Sir Geoffrey Whalen becomes chairman of the emerged company, Dunkley remains managing director and Daniel Reilly comes in as finance director.