Memery Crystal advise Autorama on its £200m sale to Auto Trader Group

Autorama has created a leading end-to-end digital platform, which aggregates leasing deals from multiple funders and original equipment manufacturers (OEMs) under its ‘Vanarama’ brand, enabling buyers to transact online across a wide range of vehicles.

The sale will enable Autorama to leverage Auto Trader’s brand to accelerate its recent expansion, beyond light commercial vehicles, into leasing new cars. There is a large structural opportunity for a new car leasing marketplace driven by the growth of electric cars, new manufacturers entering the UK market, lower take up of company car schemes, and a shift towards new digital distribution models. Leasing provides consumers a cost-effective way to access a new car with a model that is consistent with any future move towards usership.

The acquisition will enhance Auto Trader’s existing leasing proposition and help to meet the demands of the growing number of consumers who might consider leasing their next new vehicle.

The Memery Crystal team on this deal was led by our corporate partner Greg Scott, and included senior associate Andy Hughes, associate Sam Salter-Galbraith, solicitor Sylvia Mueller, and paralegal Gabriela Parra.

Commenting on the deal, Greg Scott said: “This (deal) offers Autorama a fantastic platform to accelerate its growth plans and deliver further value to its manufacturer, retailer, and lease company partners. We are delighted to have advised our client on this deal and look forward to continuing to support them as part of the Auto Trader Group.”

Andy Alderson, Founder & CEO at Autorama added: “Greg Scott and his team at Memery Crystal were invaluable in helping us deliver a complex transaction, involving numerous stakeholders, within a very tight timetable. We always felt that they understood our priorities and the issues involved, and that they had our backs in their dealings with the buyer’s legal advisers.”