Motordepot buyer Aramis Group has added Austria’s leading used car sales business to the fleet.
Onlinecars is the latest brand to join the French multinational multi-platform operator, following the addition of the Hull-based business last year.
It will drive full year revenues close to the €2 billion mark, with €200 million added.
Read more: £35m CarSupermarket buy-out accelerates growth for Aramis Group
Nicolas Chartier and Guillaume Paoli, co-founders of Aramis Group, said: “In line with the strategy presented at the time of its IPO, Aramis Group is moving forward with its international expansion through a commitment to acquire Onlinecars, the market leader for refurbished vehicle sales in Austria. There will be synergies on a number of levels between the companies, with this operation helping in particular further extend the selection of vehicles offered by Aramis Group.
“We would like to welcome on board Onlinecars’ teams, its founder Peter Marolin and its co-director Thomas Lang, who we have known for a long time and who we share the same passion with for the automotive sector and the same outstanding customer focus.
“With this operation, Aramis Group is consolidating its leading position in Europe and taking a further step towards achieving its ambition to become Europe’s preferred platform for buying used cars online.”
The undisclosed deal is finance through an increase in the credit lines made available to
Aramis Group by Stellantis, the parent company and business behind a number of leading brands.
They said it builds on a proven track record with acquisitions, following the successful integration of Clicars of Spain in 2017, Cardoen of Belgium in 2018 and MotorDepot - which also traded as CarSupermarket - in the UK.
Peter Marolin, who launched Onlinecars in 2005, said: “Joining a major listed group, which is itself owned by one of the world’s largest auto manufacturers, marks the start of a fascinating new chapter for Onlinecars. This business combination is founded on a real entrepreneurial compatibility, characterised by a shared vision of our markets' potential, a desire to grow by effectively satisfying our customers, and above all a commitment to sharing and learning each day through the best practices built up by each company.
"It is with a clear vision for the future that we will be working together, with Nicolas Chartier and Guillaume Paoli, to ensure the quick and successful integration of Onlinecars within Aramis Group with a long-term focus, in order to maximise our potential and contribute to our European ambition.”
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