16 December 2021

Peter Vardy has sold his online retailing platform Silver Bullet to dealer software firm Keyloop. The move continues the trend for consolidation within the supplier sector controlling communications between retailer, manufacturer and consumer.

The acquisition, for an undisclosed sum, is the fifth since March 2021 following Rapid RTC, EnquiryMax, MotorDocs and FISC for the business rebranded from CDK.

Silver Bullet, which was founded and owned by Peter Vardy with a minority shareholding by media company MTC, includes online finance and part-exchange valuation tools and enables dealerships to create a digital store for their vehicle stock as well as allowing aftersales customers to book online.

In a statement by Keyloop about the purchase, Silver Bullet will continue to be based in Glasgow. It added: “The entire Silver Bullet team, led by MD Cameron Wade, will become part of the Keyloop family, fitting into Keyloop’s product portfolio over the coming months. Cameron Wade will become Keyloop’s VP of global omnichannel retailing.”

Commenting on the sale, Peter Vardy, CEO of Peter Vardy, said: “I am thrilled that the Silver Bullet team will now form part of the Keyloop family and increase their presence here in Scotland. I am very proud that we have grown such a successful business in such a short timeframe and joining Keyloop represents a great next step for our company and colleagues. I would like to thank all the team for their hard work and dedication.”

Tags: Keyloop, Peter Vardy, Silver Bullet