Manheim, the world’s largest automotive services company, has taken a controlling stake in the leading digital business, Kingfisher Systems (Scotland) Limited. This bold move confirms Manheim’s long-term commitment to technology enablement in the dynamic remarketing sector. It also highlights the organisation’s continued focus on innovation and process improvement in the auction market.
Scottish firm Kingfisher has a strong existing relationship with Manheim and worked closely with the remarketing specialist to create Simulcast. The award-winning online auction platform pioneered the adoption of responsive technology, enabling its use across a range of mobile devices. Glasgow-based Kingfisher will continue to trade independently following the deal, promoting a range of solutions such as its Auction Manager product, which is running in more than 60 motor auctions in the UK and overseas markets.
In line with its stated strategic direction to lead the market in terms of technology enablement, Manheim’s investment in Kingfisher will strengthen the links between the two organisations and foster an even closer working partnership.
“Clearly, as the pace of technological change continues to accelerate in the automotive aftermarket, the need to invest in people, know-how and systems becomes an increasingly important strategic issue,” explains John Bailey, chief executive officer of Manheim Europe. He continues: “This investment into Kingfisher creates a ‘triple-win’ situation for our customers, Kingfisher and Manheim alike. While Kingfisher benefits from new financial investment to power its R&D, Manheim is able to rapidly deploy a range of exciting technologies to benefit sellers and buyers in the used vehicle market. Most importantly, our fleet, dealer and manufacturer customers will continue to be delighted by our ongoing new product development programme, improving process efficiencies in remarketing.”
Following the deal, Kingfisher will continue to operate autonomously, serving its growing portfolio of motor industry and industrial clients across the world. As a specialist information technology provider, the company will continue to be led by its current management team, headed up by Ian Fisher, Kingfisher’s managing director.
This latest deal follows hot on the heels of Manheim’s acquisition of EVS Online Auctions, the digitally powered truck and trailer auction business in May 2013.