CAP and HPI will now operate jointly from a head office in Leeds in an effort to increase collaboration.
The two companies will now operate jointly from a head office in Leeds. The relocation to Leeds will result in the closure of HPI’s office in Salisbury in 2016. The coming together of the two businesses in Leeds follows an extensive consultation process.
Neil Hodson will lead the UK commercial operations of HPI and CAP as deputy managing director. Ian Rendle, formerly the chief executive of CAP, will lead both businesses as managing director, including expansion plans in Europe, and beyond.
Rendle said: "An extensive individual consultation is still underway, and we are treating the process with the respect our staff deserve.
"Job roles are being considered for distribution in our Leeds and Theale offices, inevitably however, there will regrettably be redundancies. Obviously this is a difficult time for our Salisbury staff and we are focused on working with local stakeholders to mitigate the impact to them."
CAP and HPI are part of the Solera Group, which operates in 78 countries across six continents with 180,000 customers.
Hodson said: “By enabling both companies to work more closely together we are making a statement of intent to the industry.
“We can bring together an unrivalled view of the market to meet customer needs that are constantly evolving. It will enable us to speed up the pace of innovation for the benefit of our UK customers.”
Discussions have already begun with dealer groups and manufacturers, who have asked for a more cohesive approach to products, services, and company representation.
Hodson said: “We are working closely with our customers to develop a wave of new innovations that will drive new levels of openness and transparency of decision making in the industry, aligning to the customer journey, and delivering market beating return on investment.”
Rendle said: “CAP and HPI are exponentially stronger together, with the motor industry seeing these brands as a significant strategic partner, critical to their business needs.
“The relationship between CAP and HPI is not a new one. The valuation and provenance services of each company have long been sold hand-in-hand, and are proven to work extremely well together for the same customer sectors, at the same point of need. Together the expertise of both brands will enable a new generation of products to be harnessed, producing an offer that is unmatched in the marketplace.
“As market leaders in our respective fields, we employ the best talent in the industry to help us grow. By building teams that can drive synergies and efficiencies, and behave as one organisation, we are in an enviable position to deliver the future growth of the UK business, and provide a platform to realise our international ambitions.”