Spanish digital car retailer Clicars has been fully acquired by Aramis Group. Europa Press reported that the value of the transaction exceeded €100 million ($104.7 million U.S.), citing “sources familiar with the deal.”
Clicars had revenue of €250 million in 2021. This brought the company’s cumulative turnover since its foundation to €430 million. Clicars will maintain its brand and operational independence.
Founded by Pablo Fernández Alverez and Carlos Rivera in 2016, Madrid-based Clicars announced earlier this year that it was to more than double the size of its reconditioning facility. This expansion will increase its capacity from 2,000 to 5,000 cars a month. It also began to purchase used cars directly from consumers earlier this year.
Clicars has undergone something of a management reshuffle over recent months, with chief sales officer (CSO) Carlos del Valle appointed CEO in early April, replacing Alverez and Rivera, who had been the company’s co-CEOs since its foundation. Meanwhile, chief financial officer (CFO) Julien Divay replaced del Valle as CSO and was himself replaced as CFO by María Ares de Andrés. A month earlier, Clicars appointed aerospace industry veteran Susana Díez Gutiérrez as director of its reconditioning facility.
Based in Paris, Aramis has been the majority shareholder in Clicars since 2017. Aramis itself is 70% owned by car manufacturer Stellantis Group, which was formed by the merger of PSA Group and Fiat Chrysler. Apart from Clicars, Aramis has three digital dealer/car supermarket brands: AramisAuto (France), CarSupermarket (U.K.) and Cardoen (Belgium).