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SMA saves Premier Auctions

Premier Motor Auctions, a single-site motor auction house based in Leeds, has been rescued by Scottish Motor Auctions.

The business ceased sales in December after experiencing financial difficulties, as reported on www.am-online.com

Potential buyers were sought for the business. At one point Manheim was in talks to buy the business but the auction giant decided not to proceed.

AM understands that SMA agreed the takeover at the beginning of the month. The site has been re-opened and has been rebranded Scottish Motor Auctions (SMA) Leeds.

BCA said it had not been in discussions with the Yorkshire auction house.

With the addition of the Leeds site, SMA now has five auction sites located in Kinross, Aberdeen, Livingston and Newcastle.

SMA was bought out by a consortium of investors in 2007 in a multi-million pound deal. Bob Anderson and Kevin Bann, who founded Direct Car Finance, were involved.

At that time, Anderson, SMA managing director, said the business was in a great position to expand and become a leading UK motor auction group.

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