Tue, 16 Jan 2024 | BUSINESS NEWS
Steer Automotive Group, an independent collision repair group with more than 100 sites, is planning to continue its M&A activity after Oakley Capital reached a conditional agreement to invest in the company.
Steer Automotive Group was founded by Richard Steer in 2018 and, since then, has made 18 acquisitions. The company’s growth has seen it expand significantly and the group now employs over 2,300 staff, repairing more than 115,000 vehicles per year. The company operates through its core passenger car and prestige repair centres, luxury brand centres and commercial vehicle sites.
The investment from Oakley Capital will facilitate the next stage of its growth strategy, strengthening the company’s investment in its facilities, EV repair capability and development and training through its Steer Academy programme. The deal also sees Oakley acquire shares in the company held by Keyhaven Capital Partners and Chiltern Capital.
Richard Steer commented: "Over recent years we have built Steer into the UK's leading automotive repair business, with major investments in the talent, technology, and systems required to serve the Automotive Industry as it undergoes huge change.”
"We are delighted to have now secured a partnership with Oakley Capital to fuel the next phase of our growth. Oakley are a great fit for our business and complement our experience, with a very strong track record helping fast growing businesses through both organic growth and M&A."
Oakley Capital founder and managing partner Peter Dubens said: "Our strategy has always been to invest behind exceptional founders with a clear strategic vision.”
"We have been impressed by Richard and his team, and the way they have built Steer to serve the changing needs of the UK automotive industry. We look forward to working with the company as they deliver on their ambitious growth plans to scale Steer Group into a key service provider for this large, dynamic market."
Find out more about M&A in the automotive industry
Commands a stellar reputation for premium craftsmanship, rapid turnaround times, expertise in diverse vehicle bodywork recovery and repairs. Additionally, our client’s expansive service repertoire encompasses specialized Caravan & Motorhome repairs,...
Based in the North West, the company offers a vast array of water treatment services, including Legionella Risk Assessment, Water Tank Cleaning, Water Monitoring & Sampling, D&C, as well as plumbing remedial and servicing works.
Founded in the 2010s, the company is a leading Scotland-based specialist in industrial and commercial cleaning, boasting an experienced management team, strong financial performance, and an impressive client roster.
02
|
May
|
Legal services group completes eighth acquisition | BUSINESS SALE
Acquisitive legal services group Lawfront has completed a de...
02
|
May
|
Vehicle recovery firm rescued with pre-pack sale | BUSINESS SALE
A vehicle recovery and maintenance business has been acquire...
01
|
May
|
Testing technology firm acquired at 3.5x revenue | BUSINESS SALE
MK Test Systems Limited, a Somerset company that designs and...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.