Cardoen’s parent company expands across the Channel and plans IPO

Following an acquisition in Great Britain, Aramis exceeds one billion euros in turnover. The company is considering an IPO for further acquisitions.

Aramis has ambitions, very big ambitions. The French group specializing in the sale of used cars is considering an IPO again this year.

The 70% -owned subsidiary of PSA (Stellantis) since 2016 continues its ascent in the used vehicle market. This market is still highly fragmented in Europe, but its current form (in comparison with the new vehicle market) has put this activity back at the center of the game.

Most New Car Dealers (dealers, importers, car manufacturers) want to have an important role to play in this area.


“An IPO would strengthen the group’s strategic and financial flexibility to seize the important growth opportunities to come and accelerate its development in Europe.”

The purpose of the IPO is therefore to allow the group to “strengthen the strategic and financial flexibility to seize the important growth opportunities to come and accelerate its development in Europe”.

Acquisitions

At Aramis, the desire is therefore to grow organically on the one hand but via acquisitions on the other. The group announced on Monday the acquisition of a majority stake in MotorDepot Ltd, the parent company of CarSupermarket.com, a company that sold 20,000 cars last year and had a total turnover of 233 million euros.

The expansion therefore continues for the Aramis group after an acquisition in Spain (Clicars) in 2017 and the takeover in Belgium of Cardoen in 2018. With its acquisition, Aramis’ turnover goes above one billion euros.

1

billion euros

Aramis’ turnover was 831 million euros. With its British acquisition, the group exceeds one billion euros.

During its postponed financial year ended on September 30, the Aramis group recorded a turnover of 831 million euros, “a strong increase of 12% compared to the year 2019, despite a particularly difficult health and economic context. “. Its ebitda margin is 4.6%.

Reconditioning

The group relies in particular on reconditioning centers to repair cars before reselling them. With its British acquisition, Aramis will have a third site of this type.


Cardoen mainly sells vehicles registered with few or no kilometers and few used cars.

In this galaxy, Cardoen has a little bit of a business. Cardoen in fact sells the vast majority of vehicles registered with few or no kilometers and few used cars. “Our biggest challenge will be to develop in used cars”, confides Ivo Willems, co-CEO of Cardoen.

The turnover of the Belgian subsidiary fell by 10% to 178 million euros for the fiscal year ended September 30, 2020.

Cardoen also trades cars for the group, but Aramis intends to stop this activity “of sale / purchase of B2B vehicles in the medium term”, an activity which represents 13 million euros in the turnover of Aramis.

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