Vehicle data providers HPI and CAP, both parts of the Solera Group, are to work more closely together after the two moved into the same head office in Leeds.
Both companies are owned by US firm Solera Holdings. While HPI has been a part of Solera since 2008, CAP was only bought by Solera at the end of 2014.
Go deeper with GlobalData
The companies said: "Closer working between the two brands creates the only UK-based business with decision support data and software solutions spanning vehicle identification, valuation, validation, collision and mechanical repair, and total cost of ownership."
Ian Rendle, former chief executive officer of CAP has been named managing director, while Neil Hodson, the former head of HPI, will become deputy managing director.
According to a release, Rendle will be responsible for European expansion plans, will Hodson will lead the UK commercial operations.
Ian Rendle said: "CAP and HPI are exponentially stronger together, with the motor industry seeing these brands as a significant strategic partner, critical to their business needs.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData"The relationship between CAP and HPI is not a new one. The valuation and provenance services of each company have long been sold hand-in-hand, and are proven to work extremely well together for the same customer sectors, at the same point of need. Together the expertise of both brands will enable a new generation of products to be harnessed, producing an offer that is unmatched in the marketplace."
When asked about the effect this would have on staff, Rendle told Motor Finance: "An extensive individual consultation is still underway, and we are treating the process with the respect our staff deserve. Job roles are being considered for distribution in our Leeds and Theale offices, inevitably however, there will regrettably be redundancies. Obviously this is a difficult time for our Salisbury staff and we are focused on working with local stakeholders to mitigate the impact to them."
The move to Leeds will result in the closure of HPI’s office in Salisbury in 2016.
