Ardian's Opteven buys WMS Group

Managing director John Colinswood will remain in his role and the company will continue to trade under the WMS Group brand, operating as a subsidiary of Opteven.

Opteven has had an operational presence in the UK since 2014, according to its website. It manages the approved used warranty programme on behalf of Volkswagen Financial Services UK.

Ardian announced it had acquired Opteven a year ago. The company was valued at around €150m, around 12.5x its 2017 EBITDA of €12m, Unquote reported at the time. At the time of the acquisition, the GP was planning to accelerate Opteven's international expansion.

Company
Founded in 2003 and headquartered in Thame, the WMS Group provides business-to-business car warranties, ranging from basic three-month warranties to all-mechanical and all-electrical three-years ones. Around 3,500 dealers use WMS Group's products. 

People
WMS Group - John Colinswood (managing director).
Opteven - Martin Quail (CEO).

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• Topics
• Expansion
• France
• Financing
• United Kingdom
• France
• Ardian (formerly Axa PE)