£16m vehicle solutions provider sold to major industry player

Vehicle Replacement Group (VRG), the Solihull provider of vehicle solutions to the UK insurance market, has been acquired by professional services and technology business Davies Group.

Advised by FRP corporate finance partner Dave Howes, VRG’s add to Davies Group’s established motor claims operations in the UK.

Matt Corby, managing director of VRG, will continue to lead the business and will report to Kath Mainon, CEO of the Davies Claims Solutions business in the UK & Ireland.

Founded by Corby in 2016, VRG has established a strong industry reputation through a unique, market-leading service offering to its blue-chip client base. Based in Solihull, but with offices across the UK, VRG will be integrated into Davies’ 4,000-strong team.

FRP was instructed by VRG’s shareholders to secure a buyer for the £16m turnover business following a decision to assess its options. The FRP team included Dave Howes, Ryan Symonds, Matt Field and Alex Hunton.

Corby said: “It’s a great pleasure to be joining forces with Davies and we are excited to be part of its next phase of growth. The deal will offer our team significant opportunities for their personal development and career progression, and we look forward to working with the wider Davies Group to the benefit of our highly valued clients.”

Dave Howes, corporate finance partner at FRP, added: “In just four short years, Matt and his 60-strong team have created a multimillion-pound turnover business that continues to thrive despite the current economic headwinds. This deal demonstrates the continued demand for high-quality businesses within the M&A market as both trade parties and private equity seek valuable additions and drive market consolidation. We look forward to watching the continued growth and development of VRG under the Davies Group over the coming years.”