Expansion on the agenda after handl Group acquisition

Chorley-based handl Group has acquired auto locksmith, We’ve Got The Key (WGTK), for an undisclosed sum.

The handl group is an insurance, legal and healthcare services provider and and aims to double the size of Norwich-based WGTK in 18 months, after appointing Peter Crellen into the managing director’s role.

Chris Chatterton, chief commercial officer for handl, said that, under new management and with significant investment in ‘people plus technology’ – a core handl theme – WGTK is aiming at a 4-5% market share, doubling the number of call outs from 50,000 to 100,000 per year, and expanding its footprint to support motor insurers with key-related claims.

Chris said: “The auto locksmith market is hugely disaggregated, with literally thousands of sole traders, and a few small panels, but we believe WGTK has the potential to become a national brand for resolving auto lockouts in the same way that Home Serve did for home emergency cover.”

WGTK is the only national provider with a large network of its own employed auto locksmiths, supported by a specialist training school.

Chris Chatterton said WGTK is already the largest auto locksmith in the UK, providing services to insurers, breakdown and recovery services, as well as the fleet and rental sectors. It also has a competitive retail offer for consumers who lose their car keys and need urgent assistance.

In addition to this, the business has many trade customers with large fleets and has plans to build out its share among car dealerships, self-insured fleets and land more insurance contracts.

WGTK will align with Coplus, handl’s specialist ancillary insurer and claims handling business, which is also based in Norwich.

Chris said: “It’s a deal with massive potential, and we’re very excited by this opportunity. Investing in the management team is one of the first things we do when we make an acquisition so we’re delighted to welcome Peter on board.”

Peter Crellen said: “Following the acquisition by handl Group we are in a great position to fulfil our potential. My immediate priorities are to enhance the leadership team by hiring a head of sales to increase the number of auto locksmiths we have, and to grow the number of auto locksmiths on our panel.”

He said demand for auto locksmiths is growing, primarily as a result of new technology and security systems.

The deal is expected to complete later in the autumn.