Opteven acquires WMS Group

WMS Group has announced that it has been acquired by the Opteven family.

The deal secured FCA approval in late December, after directors from both organisations put pen to paper finally agreeing Opteven’s acquisition of WMS Group.

Opteven already has an established operational presence in UK as it manages the Approved Used Warranty programme on behalf of Volkswagen Financial Services UK. Strategically, Opteven has ambitions to continue to grow its presence throughout Europe.

Following the deal, Peter Ginger and Chris Brooks will be leaving the business. However, John Colinswood will remain as managing director of WMS. Martin Quail will become CEO.

Colinswood said: “As I have said before, for our customers and staff it is business as usual. We are still incredibly passionate about helping our dealer partners to provide the very best warranty products and after sales support to their customers. When the original announcement was made last September, we had already started the process of restructuring our business, which included investing in our IT platform and encouraging new talented people to join us on our growth journey. All of which has already benefited our dealers and their customers alike.

“With Opteven’s support we plan to create new and exciting products to continually support our dealer partners. In addition, Opteven now also provides incredible career and development opportunities to the team at WMS. Overall, I’m am extremely delighted with this news,” said Colinswood.

Quail, Opteven’s CEO for Northern Europe, said: “Opteven Group will invest heavily in WMS Group and its people to ensure this brilliant business, full of talented people, continues to flourish and deliver a fantastic service to UK dealers and their customers.”