Thomson Snell & Passmore Advises Automotive Compliance Limited On Its Sale To Evolution Funding Group Limited
Evolution Funding Group Limited, an automotive finance and digital commerce platform, has (subject to regulatory approval) acquired Automotive Compliance Limited, a provider of FCA-regulated compliance services for the automotive industry. Law firm Thomson Snell & Passmore advised the shareholders of Automotive Compliance on the transaction.
Founded in 2008 and based in Gloucester, Automotive Compliance has grown to become one of the UK’s leading FCA-regulated providers of compliance services and systems for the motor retail sector. The business supports a wide range of dealerships with regulatory oversight, governance frameworks and compliance technology, and is recognised for its strong brand, specialist expertise and comprehensive compliance solutions.
Evolution is the UK’s largest automotive finance and digital commerce platform, connecting dealers, OEMs, marketplaces and lenders. Formed in 2002 and headquartered in Chesterfield, Evolution is backed by leading private equity firm Carlyle (NASDAQ: CG) and includes Evolution Funding, Click Dealer, Motion Finance and Creditas.
Automotive Compliance will continue to operate as a standalone legal entity within the Group, with its leadership team remaining in place throughout the integration period to ensure continuity for customers, partners and staff. Evolution intends to invest further in the business to advance its systems, broaden its service offering and support ongoing growth across independent retailers, franchised dealer groups, OEMs and digital marketplaces.
Paul Speakman, director at Automotive Compliance comments: “Joining the Evolution Funding Group is an exciting step for Automotive Compliance. We’ve spent many years building a trusted, respected compliance service for dealers, and this partnership allows us to take that to the next level. Evolution’s scale, technology and forward-thinking approach give our team and our dealers new opportunities to grow and innovate. We’re proud of what we’ve achieved so far, and we’re looking forward to what we can now achieve together.”
Paul Guy, director at Automotive Compliance adds: “Our goal has always been to make compliance clear, effective, and aligned to the realities of motor retail. Becoming part of Evolution allows us to strengthen that work with more scale, better tools, and wider capability behind us whilst playing a central role in the Group’s vision for integrated, compliant dealer and consumer journeys. It positions us strongly for the future and the growing regulatory focus across the market. We’re excited to be joining a group that shares our values and commitment to supporting dealers with the same practical, no-nonsense approach we’re known for.”
Jason Varney, Partner in the Corporate M&A department, led the transaction team at Thomson Snell & Passmore. He was supported by Faye Cook, Dan Gorringe and Harry Roffey in the Corporate team. Due to the nature of the transaction, the deal necessitated a multidisciplinary project team, which included Ben Stepney in the Employment team, Katherine Morgan in the Real Estate team and Seray Genc in the Commercial team.
Jason Varney, Partner at Thomson Snell & Passmore, notes: “This deal was great to work on and highlights the breadth and strength of our Corporate M&A team and our wider commercial group; as well as our expertise in PE backed transactions and the automotive industry. It is always a pleasure to work on transactions where the parties are so well aligned. We wish the team at Automotive Compliance the very best as it continues to thrive as part of Evolution.”