View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
August 7, 2019

CD Auction Group to manage Marshall Leasing’s pool fleet

By chris lemmon

Marshall Leasing has appointed CD Auction Group to manage its pool fleet, providing the firm with a number of benefits.

Marshall Leasing, which is part of Northridge Finance a subsidiary of Bank of Ireland UK, operates a fleet of over 8,000 vehicles with a net book value of approximately £100m. Following a review of its pool fleet management service, the company opted to outsource the process to CD Auction Group.

Through the new service, Marshall Leasing will have access to cost-effective secure vehicle storage, vehicle inspection reports, vehicle body repairs, vehicle maintenance and vehicle valeting. The platform also offers full visibility of the vehicles being managed, with Marshall able to schedule repairs through CD’s team.

“I am really pleased to be working with CD Auction Group, we have great confidence that we’ve partnered with the right team to provide an effective and efficient way of managing our clients spare in life vehicles,” said Peter Cakebread, managing director of Marshall Leasing.

“As our business continues to grow, we quickly recognised that we needed additional support in this area and CD Auction Group offered an advanced branded technological portal with the right level of customer support, yet importantly, one that keeps us in control of our client’s vehicles.”

Andy Brown, managing director at CD Auction Group, added: “We are delighted to be working with Marshall Leasing in helping them manage their pool fleet. I am confident that they will benefit greatly from our extensive experience of supporting organisations needing to rehome or reallocate their in-life vehicles as well as manage and repair as required to a high standard, so vehicles are ready for use when they are required.”

Marshall Leasing was absorbed by Northridge Finance in 2017 in a deal worth £42.5m. In a statement explaining the rationale for the sale, Marshall Motor said: “Eight of the top ten UK motor leasing businesses are owned by financial institutions or vehicle manufacturers.

“The Board therefore believes that the future growth of Marshall Leasing (MLL) is better supported under different ownership and is pleased to have agreed a sale of MLL to Bank of Ireland.”

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The leasing industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Leasing Life