Birmingham garage acquired in Midlands-led deal
A BIRMINGHAM garage business has been acquired by a Midlands rival in a deal led out of the region.
Chelmsley Wood-based Kingshurst Automotive has been taken over by fast-fit automotive group Easy Autocentres, which has been supported by a refinancing package from Yorkshire Bank East Midlands.
The acquisition, the details of which have not been disclosed, was led by Springboard Corporate Finance.
Kettering-based Easy Autocentres is led by managing director Chris Kisby and operates under the HiQ franchise, with a network of 19 units across the Midlands region.
Commenting on the deal, he said: “Kingshurst has a strong reputation in its local market for providing exceptional customer service and is a great fit with our business. Strategically the acquisition provides an excellent addition to our existing network and with further acquisitions in the pipeline I look forward to the next exciting phase of development for Easy.”
Russell Kilner, relationship manager at Yorkshire Bank’s Business and Private Banking Centre in Nottingham, said: “Since completing the management buy-out in 2008 from Goodyear Dunlop, Chris has successfully repositioned the business and rationalised the number of stores to a profitable core.
“We are pleased to have supported Chris on the Kingshurst acquisition and refinancing of Easy Autocentres.”
Easy was advised on the transaction by Springboard Corporate Finance, with the team led by partner David Neate and Assistant Director James Bailey. Legal advice was provided by Gareth O’Hara and Tim Edwards, of The Wilkes Partnership.
