The Rix brothers, who were behind online classifieds website Netcars from 2009 until its sale to the RAC in 2013, have bought the Carcraft web domain and trademark.
Reg and Louis Rix plan to relaunch the Carcraft brand as an online used car classifieds business which will be free for dealers to advertise on.
The entrepreneurial duo already operate online motor finance broker Carfinance247 and hope the Carcraft venture will provide further growth.
Reg Rix said: “Our acquisition follows a phenomenal year of growth for Carfinance247 and is part of our advancement strategy.”
“In its heyday Carcraft was a highly successful business and the brand name still attracts a large amount of natural web traffic. We will work hard to re-invigorate consumer confidence in the name by creating a reliable, trustworthy car classified website, delivering the same high levels of technology and service that’s helped us build the Carfinance247 name.”
“Having worked in the motor trade for many years, the Carcraft brand means a lot to us personally as well as a brand we see big potential in going forward.”
A team led by partner Ed Foulkes from the Manchester office of Clarke Willmott LLP advised Carfinance247 on the acquisition.