Tenzing and Livingbridge, two of the UK and Europe’s leading mid-market private equity investors, are pleased to jointly announce that CitNOW Group has acquired digital solutions provider, Auto Imaging, sales lead management provider, AutoSLM, and Dealerdesk, a customer relations platform based in Germany.
CitNOW Group provides market-leading software products to franchised car dealerships to improve both efficiency and conversion of sales and aftersales. These transactions mark CitNOW Group’s second, third and fourth bolt-ons since Livingbridge’s investment and Tenzing’s reinvestment in July 2022, and shortly follow its acquisition of software provider Real Time Communications in August.
Headquartered in St Neots, Cambridgeshire, Auto Imaging provides imaging and video services to the motor industry. The acquisition will significantly enhance the CitNOW Group proposition, enabling dealers to capture more consistent vehicle imagery, provide immediate quality control of imagery, automated stock video, and accelerate their deployment within online listings.
Headquartered in Wakefield, West Yorkshire, AutoSLM provides systems that help dealers improve sales conversion rates by optimising the efficiency and effectiveness of their lead management processes.
CitNOW Group has also increased its international presence with the acquisition of Dealerdesk, a multichannel customer relations management hub. The Dealerdesk suite of products is designed to connect customers to retailers through all communications channels. The company helps synchronise dealership operations, improving customer relationship management, time management systems and customer database accuracy.
The investments in Auto Imaging, AutoSLM and Dealerdesk build on the Group’s prior acquisitions of Web1on1 in the Netherlands, Dealerweb, Real Time Communications, Tootle and Reef Business Systems in the UK, and Quik in the US.
Christian Hamilton, Co-Founder and Joint Manager Partner of Tenzing said: “The acquisitions of Auto Imaging, AutoSLM and Dealerdesk are an exciting opportunity for the CitNOW Group to further strengthen the offering it provides to its loyal customer base. We’re delighted to have supported the team in executing their ambitious growth strategies.”
Geoffrey Page-Morris, CEO of CitNOW Group commented: “We are excited to be strengthening CitNOW Group’s proposition and market penetration with Livingbridge’s and Tenzing’s support. These new investments will optimise our customers’ journey by improving the standard of their vehicle listings and workflow efficiency.”
Simon Peet at Livingbridge added: “We are pleased to support CitNOW Group in accelerating its strategic M&A programme with the acquisitions of Auto Imaging, AutoSLM and Dealerdesk. Their complementary offerings provide an excellent opportunity for the Group to deliver an increasingly sophisticated end-to-end service to its clients across the UK and beyond.”