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Remarketing company Manheim has acquired Movex after taking a majority shareholding in the online vehicle logistics service for an undisclosed sum.
Manheim said Movex is responsible for around 40,000 vehicle movements each year for a range of customers including vehicle remarketing companies and dealers.
Customers wanting to relocate a vehicle have to upload their requirements to the website, where approved transport providers by Movex are able to submit quotes for the job.
The successful transportation firm is then charged a commission fee by Movex based on the revenue generated from jobs arranged through the service, as well as a monthly subscription fee based on the company's usage of the platform.
"We know that our platform delivers major benefits to our existing customers and transport providers, and has the potential to be scaled up to meet rising demand in vehicle movements across the UK," said Darren Jones, managing director of Movex.
Manheim has confirmed Movex will continue to operate as a standalone business under Jones' leadership.
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