Real Time Communications (RTC) returns to independent ownership following management buyout

Real Time Communications (RTC) returns to independent ownership following management buyout

The Founder and Senior Management team of Real Time Communications (currently trading as Manheim Sales & Service) have secured a management buyout, allowing the successful dealer software business to push ahead with expansion plans, while returning to the original trading name: Real Time Communications.

Original Founder Tim Baumfield and the Senior Management team of Real Time Communications led the buyout of the business from current owners Cox Automotive UK. Baumfield, who founded the business in August 2001, will be working closely with current Managing Director Richard Robinson, who will continue to lead the business day to day. They will have the support of other members of the Management Buyout team, including Mike Whitney, original software designer and architect of RTC, and Tracey Howell and Simon Coates, both long-serving employees of the business.

Commenting on the buyout, Baumfield said: “This is an exciting development for everyone employed in the business and our customers. I founded Real Time Communications (RTC) almost 18 years ago, and it gives me enormous pleasure to lead the team that have completed this buyout and get back involved with a business that I am passionate about.

“Of course, much has changed since 2001, but not the clear enjoyment and commitment that the team have for working with our clients in the dynamic business that is the motor trade. It’s a great business with great staff and brilliant customers, and we have an exciting vision for the future and the resources and expertise to deliver it!”

Real Time Communications employs more than 50 people, predominantly based in its Bury office. It will continue to supply software to franchised dealers and OEMs for both the Aftersales and Sales departments in the form of RTC and Close-it, with an open-platform approach at its heart.

The Real Time Communications Management team will be working closely with Cox Automotive UK to ensure a smooth transition, with no disruption to customers’ service levels.

Martin Forbes, CEO of Cox Automotive UK, added: “As part of Cox Automotive, the Manheim Sales & Service business has grown and continued to win new clients. However, following the decision by Cox Automotive US to dispose of our international DMS business [incadea] last year, dealer software is not one of our UK core strategic priorities, with focus areas for Cox Automotive UK being physical auction and digital wholesale, retail solutions and vehicle services.

“We therefore believe that it is in the interest of this business, our customers and its employees to be owned and managed by a Leadership team with their specialist expertise, a long-term strategy and outstanding customer service mentality. I would like to thank everyone in the RTC team for their dedication and hard work during their time within Cox Automotive and wish the whole team the very best success in the future.”

The new Management team is aiming to build on Real Time Communications’s strong customer base and market position and to deepen and expand the range of services and specialisms it provides to its client base.

The team is delighted that customers share their sense of enthusiasm as the business enter this exciting new chapter.

Latest from Cox Automotive

16th August, 2019

Cox Automotive forecasts 7.8 million used car transactions in 2019 after strong H1 used car performance

We've reaffirmed our full year forecast of 7.8 million used car transactions in 2019 following the release of Q2 figures from the SMMT.

Read more
13th August, 2019

Market tracker - July 2019

July trading started reasonably well and stock availability in the wholesale market did improve in July, according to results released today by Cox Automotive.

Read more
13th August, 2019

CV market tracker - July 2019

The used LCV market put in a strong performance in July with good levels of buyer demand and stock availability, according to the latest results from Manheim.

Read more
6th August, 2019

Dealers react as dip in diesel demand hits used car market

Declining demand for diesel stock is starting to impact the used car market according to the latest NextGear Capital sentiment survey.

Read more
More articles