Announced
Completed
Financials
Tags
Completed
Domestic
Friendly
Majority
Private
Acquisition
Single Bidder
United Kingdom
Auto Services
accident administration
parts repair
automotive
Synopsis
Redde Northgate, a provider of car hire and repair services to motorists who are involved in accidents where they are not at fault, completed the acquisition of Nationwide Accident Repair Services, a network of accident repair centers in the UK, providing services to motor insurers and fleet operators, for $22m. “At the time of the Redde Northgate merger, we set out our vision to become the leading integrated mobility solutions provider. This acquisition, our first post-merger, is in line with that vision and significantly increases our strategic and operational capability to support a wider number of business partners requiring automotive repairs. We expect this acquisition will open up new markets to the Group, and in combination with an established pipeline of repair work from existing Group companies, such as FMG, it is well placed to maximise future opportunities," Martin Ward, Redde Northgate CEO.
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