G3 Vehicle Auctions acquires Cazoo Wholesale

G3 Vehicle Auctions has acquired the Cazoo Wholesale business and will create a new G3 Bedford auction facility as part of its ongoing expansion.

The Cazoo business went into administration on Tuesday (May 21), following a string of financial difficulties.

G3 acted swiftly to secure the premises, land and existing experienced remarketing team from Cazoo along with other software assets, to add to its existing Castleford centre.

The expansion will see G3 increase its headcount to more 140 and instantly doubles the company’s capacity for vehicles.

G3 expect its new Bedford marketplace to offer in excess of 30,000 vehicles per annum, with a mix of existing and new vendors contributing their vehicles to used car dealers, both nationally and in this new region.

The purchase of Cazoo’s strategically located facility creates a secure 14-acre site in the South Midlands area, which is located just 45 minutes from the M25 and will be fully operational overnight with a the newly formed sales schedule being released shortly.

As well as a new auction footprint in a new area of the UK, G3 Bedford will become an additional drop-off centre for their network of finance house partners, whilst also offering onsite de-fleet and refurbishment facilities with many of the incumbent team having extensive experience in this sector, as well as offering secure fleet and in-life storage options.

G3 intends to relocate its existing Pool Fleet operation to this new facility due to its strategic location and range of facilities and will also look to expand and focus on existing relationships within this sector.

The site currently holds the EVA standards which will allow G3 Bedford to become an EV-focused auction centre, servicing the ever-growing fleet disposal needs for electric and hybrid vehicles in the UK.

G3’s co-owner Matt Dale said: “This year is the 15th Anniversary of G3 and after the recent development of our G3 Castleford centre and the uptake it has had in the industry, we have been actively seeking the right opportunity to extend our network across the UK. 

“We are excited to onboard a group of experienced individuals to the team and collectively drive the service we’ve become known for at G3 into a new region, with further expansion opportunities currently in the pipeline.”

The new centre will undergo a seven-figure investment over the next 12-months to align its facilities and reflect the existing G3 brand and design ethos.