Motor finance broker Evolution Funding has completed the acquisition of automotive tech provider Click Dealer for an undisclosed sum.
Supported with follow-on funding from private equity firm LDC, the acquisition aims to help Evolution achieve its next milestone of brokering more than £1bn’s worth of motor finance agreements in a year.
Established in 1999, Click Dealer provides the automotive industry with a number of services, including dealer website hosting, proprietary dealer management systems and associated digital solutions for independent motor retailers. The company currently services over 1,550 dealers in the UK.
The company employs a team of 63 at their head office in Stoke-on-Trent and will continue to operate under the leadership of Gerry Moxham, Ollie Moxham and Pippa Rawlinson. It will remain as a separate legal entity within the Evolution Funding Group.
Lee Streets, chief executive at Evolution, said: “We are acquiring a highly-regarded data-driven, end-to-end, automotive software provider. They have a fantastic reputation in the market and there are many similarities with our own company culture – it’s a great fit.
“We are keen to maintain Click Dealer’s agnostic position on finance, offering true flexibility and choice for the retailer and the customer. In addition, our aim is to make innovative features and functions available via Click’s platform that deliver best-in-class digital finance journeys and increase point of sale finance sales for dealers.”
Gerry Moxham, founder of Click Dealer, added: “We are delighted to be embarking on the next stage of Click’s journey as part of the well respected and highly successful Evolution Funding Group.
“This strategic decision to integrate with Evolution puts us in a great position to support dealers now, and in the future, as a true performance partner. We look forward to working with the team at Evolution in delivering new innovations and integrated digital and financial solutions for dealerships across the UK.”
Last month, Evolution appointed Daniel Reeve as its chief technology officer.
Reeve joins Evolution with over 20 years’ experience in technology and development, with a focus on delivering high-performance technology platforms, software projects and digital solutions.