Vehicle repairs business drives into region following deal
A VEHICLE repair and servicing specialist has expanded its operation into Yorkshire following its latest acquisition.
Heage Road Vehicle Services (HRVS) has acquired the MAN truck repairs and servicing business carried out by MAN Truck & Bus UK in Sheffield.
HRVS provides a one stop shop for commercial vehicle and Passenger Service Vehicle (PSV) repairs and servicing, specialising in MAN HGV vehicles.
Already operating three depots in Ripley, Newark and Leicester, the company said the addition of the three acre site in Shepcote Lane will “significantly expand” its offer and customer base.
Keith Sims, group service director of HRVS, said: “This business opportunity was presented to us by MAN so we were very keen to take up the offer quickly and secure the deal as it represents a significant addition to our portfolio, stretching our geographic reach and customer base.
“We’re delighted to now be operating in Sheffield and are already planning another acquisition for 2011.”
Corporate law partner Gavin White, managing partner Peter Thornley and employment law specialist Louise Dunkley from Fraser Brown provided legal advice on the deal.
The team worked with Jonathan Bell, business partner at Yorkshire Bank’s Financial Solutions Centre in Nottingham, to secure the funding for the multi-million pound deal.
Mr White said: “Time was of the essence to get this deal to completion and working with the team at Yorkshire Bank we were able to deliver the funding package in four days which is quite an achievement in the current climate.
“Ensuring a smooth transition for the 30 employees and their new employer was also essential which is where our employment Louise Dunkley came in to provide advice in relation to the consultation process.”
Mr Bell added: “The bank is keen to play its part through the Investing for Growth initiative to encourage local businesses to grow and develop and we are delighted to have been able to help a successful company such as HRVS continue to expand.”
