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Emmox Carcost in administration

Date: 03 October 2008   |   Author: Tristan Young

Automotive venture capital firm Magma Group is understood to have bought the majority of the fleet and logistics company McKenzie Myers group yesterday.

However, Magma, headed by motoring supremo Martin Leech, has not bought Emmox Carcost, the vehicle whole-life cost data division of McKenzie Myres.

Emmox Carcost is understood to have been put in the hands of administrators.

Officials at both Magma Group and McKenzie Myres were unavailable for comment.

BusinessCar's sources have indicated the Emmox Carcost business is likely to be bought in the near future.