Lumley Sells Auto Insurance and Warranty Business to Automech
26th September, 2003

Lumley Auto, one of the UK’s leading providers of insurance and warranty solutions to the motor trade has been sold to Automech.

Automech was formed this year by long standing motor trade experts John Gilbert and Bill Meadowcroft specifically to purchase a warranty administration company and associated businesses. Lumley Auto is its second acquisition, the first being motor vehicle finance broker FI Online.

Commenting on the purchase John Gilbert, Managing Director of Automech, said: “Lumley Auto brings with it a respected brand, a knowledgeable team and long standing relationships with major underwriters, which is a significant advantage and key part of the acquisition. The claims handling capabilities and business capacity are other reasons why the opportunity to purchase Lumley Auto was so attractive.

“We now intend to develop and grow the business by taking the company into new distribution channels. As a result Lumley Auto will be launching new, unique and innovative products to a wider range of clients.”

Parent company Lumley Limited decided to sell Lumley Auto in order to focus on developing other lifestyle brands including Lumley Letsure, the UK’s premier provider of risk and insurance management for the fast growing residential lettings industry.

Peter Lumley, Managing Director of Lumley Limited, said: “Over the past year the Lumley Auto team has undertaken an intense rationalisation programme in order to adapt to the changing UK auto market. The results achieved have put the business in a good position for future growth under the guidance of Automech.”

As a result of the sale Directors Peter Lumley and David Palmer have resigned from the Lumley Auto board. Adrian Bond, Managing Director of Lumley Auto, has also resigned in order to take up a new strategic role within Lumley Limited.

The new three-strong management team will be led by John Gilbert as Managing Director and Bill Meadowcroft as Sales and Marketing Director. Existing Lumley Auto Director Peter Robinson will assume the role of Operations Director and provide continuity with existing Lumley Auto staff.

Before forming Automech John Gilbert was most recently Sales Director at RAC Warranty, whilst Bill Meadowcroft was previously employed by motor manufacturers including Ford Motor Company and BMW GB. He also ran the successful Network Q used car warranty programme on behalf of Vauxhall Motors.

For the last 25 years the Coventry based company has delivered innovative solutions to dealers facing industry changes. The majority of the business handled by Lumley Auto is based around the provision of warranty, guaranteed asset protection (GAP), motor vehicle breakdown and motor vehicle insurances through recognised brands Driveasy and Bluecar or white-labeled to a client’s own brands. However, the delivery of most finance and motor related services is within the knowledge capabilities of the highly experienced team.

Since its formation, Lumley Auto has developed an unrivalled reputation for creating bespoke insurance products to match the needs of a wide range of industries. These include motor manufacturers, financial institutions, motor industry support services, dealers and dealer groups.

For further information please contact:

Ian Barrett at FWD (t) 020 7623 2368
PR for Lumley Limited (m) 07798 898277

Bill Meadowcroft - Automech (m) 07764 658667

Notes to Editors

Lumley Auto
For further product and service information please visit the Lumley Auto website at www.lumleyauto.co.uk

Lumley Limited and Letsure
Letsure is owned by Lumley Limited. Lumley’s core philosophy of “traditional values, innovative solutions” is central to the development and growth of its business.