Accident repair centre chain sold to private equity-backed counterpart
Accident repair centres chain, AW Repair Group, which operates throughout the East Midlands and South Yorkshire, has been sold to Chiltern Capital-backed Steer Automotive Group.
AW has 12 sites and was founded in 1996 by Andrew Walsh. It has outlets in Sleaford, Newark, Markham Vale, Nottingham, Derby (two), Boston and Lincoln in the East Midlands.
Azets advised AW on the sale.
Exiting founder and CEO of AW Repair Group, Andrew Walsh, said: “I started the business at the age of 24 and to negotiate its sale was, at times, emotive, frustrating and also exciting. Thanks to the guidance from the Azets’ team, namely Martin Poole, Tom Eastwood and Doug Allan, who were always calm, diligent and consistent in their approach and any alternative proposals were always explored. They had a really good understanding of all the intricacies, and worked in partnership with our legal advisors.
“We wish the team at Steer Automotive Group all the best and look forward to following their journey.”
Martin Poole, partner at Azets, added: “It was a pleasure working with Andrew and Emma, long-standing clients of the firm. Through their hard work, they have grown a business from scratch into one that is at the forefront of the industry. Their commitment and determination through the transaction process has been second to none and they thoroughly deserve the value that they have achieved for all of their efforts.
“I have no doubt that the legacy and dedication shown by AW Repair Group’s founder and CEO Andrew and finance and legal director Emma will enable the business to flourish under new ownership.”