Vehicle remarketer Manheim has acquired a majority stake in vehicle logistics platform Movex.
Movex, founded in 2012, facilitates around 40,000 vehicle movements each year for a range of customers, including dealerships as well as vehicle remarketers.
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Michael Buxton, chief executive officer at Manheim UK, said: "The majority acquisition of Movex is a further demonstration of our commitment to investing in products and services to deliver greater value to our customers. The Movex platform is complementary to our existing business and we are now in the process of fully exploring the synergies that can be achieved."
Daren Jones, managing director at Movex, said: "We know that our platform delivers major benefits to our existing customers and transport providers, and has the potential to be scaled up to meet rising demand in vehicle movements across the UK."
Movex, which is based just outside London, will continue to operate as a standalone business under the leadership of Daren Jones.
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