Paragon Automotive, a vehicle processing and logistics company, has acquired 150 acres of land and vehicle processing facilities from Zolfo Cooper, the administrators of manufacturer The Camden Group.

Paragon Automotive, a vehicle processing and logistics company, has acquired 150 acres of land and vehicle processing facilities from Zolfo Cooper, the administrators of manufacturer The Camden Group.

Stephen Hucklesby, Paragon managing director, said: “Our acquisition marks a major milestone for Paragon Automotive. We believe that this deal adds significant strength to our existing vehicle processing business.”

Paragon operates from Bedfordshire, Upper Heyford, Immingham and Grimsby. Although the transaction does not include the retail division of the company, which will cease trading, Paragon has also acquired Camden’s stake in a joint venture in Livingstone, Scotland.

“Despite the challenging trading conditions that the industry as a whole is experiencing, we have confidence that our enlarged business can weather the storm”, Hucklesby added.

Alastair Beveridge, Zolfo Cooper partner commented: “In the context of recent turmoil in the automotive industry, this deal represents a positive outcome for creditors and employees of Camden Fleet Solutions. The financial details of the deal were not disclosed.