Exciting news! Vehicle & Asset Solutions Ltd (VAS) has been acquired by the leading French inventory pledge and floor check service provider, Auxiga Group.
Auxiga Group, which is supported and backed by Private Equity firm Andera Partners, is accelerating its international development with the acquisition of Vehicle & Asset Solutions Ltd (VAS).
Auxiga Group deliver the same audit related services as VAS in France and Benelux. They are also the largest service provider of outsourced pledge auditing in these countries. The acquisition of VAS by Auxiga Group brings together the two leading vehicle and asset auditing businesses creating a formidable service partner for Pan-European Wholesale Inventory Funders.
Having worked together for the past four years jointly servicing customers, both VAS and Auxiga Group have a strong cultural fit and matching strategic roadmap. The acquisition creates a new and exciting Anglo-Irish-French-Benelux venture that will combine operational capabilities and digital solutions for the benefit of existing and new customers.
As well as the excellent management team, a key feature of the acquisition for Auxiga Group has been the SMART software solution which combines Physical Independent Audit, Dealer Self-Audit and a Customer Result Portal (Risk Platform) in a single solution, which is viewed as best in market.
Whilst VAS leave behind a great parent in Asset Solutions Group, they are joining forces with Auxiga Group to embark on the next step in their joint company vision to extend their risk management solution to provide a European service offering.
Paul Neal will be taking the role of Managing Director of the VAS business in the UK & ROI. Paul is very much looking forward to this new challenge and you can rest assured the excellent service delivery you receive from the VAS team will continue uninterrupted.
The entire UK management team remains unchanged. The business will continue to operate out of Orpington in Kent and you can continue to rely on the support provided by Darren, Grant, Zach, Ben, Pete, Natasha, Karren, Jon and the entire office and field auditor team.
Paul Neal, Managing Director of VAS, added: “It is with great enthusiasm that we are now joining the Auxiga Group, whose support will enable us to accelerate our development in the UK and Ireland as well as in continental Europe through the establishment of an international vehicle and asset audit offering.”
Arben Bora, Chairman of the Auxiga Group, said: “This acquisition is a first step in the international development phase supported by Andera Partners, combining international expansion and strengthening the group’s digital capability / offering.”
François Xavier Mauron, Partner of Andera Partners, comments: “We are very pleased to have accompanied the Auxiga Group in this operation, which perfectly embodies our investment and support strategy; the change of scale accelerated by internationalisation and external growth. We welcome Paul Neal and his team to this ambitious development project.”