Wed, 19 Feb 2014 | MERGER
The Innovation Group has purchased vehicle repair provider Crash-worth to add to its own business in a deal worth £11.75 million.
The buyer Innovation Group offers business process services and software solutions to sectors including insurance, fleet, property and automotive across the globe.
The acquisition sees the addition of Crash-worth’s motor repair operations, to make the business the second biggest manager of vehicle repair claims in Britain.
Crash-worth also offers a consultancy service for those wanting to create a competitive advantage in a rapidly changing environment.
Chris Ashworth, the founder of Crash-worth, will become managing director of the UK motor business.
Solicitor firm Irwin Mitchell in Sheffield advised on the sale. Andrea Cropley, Irwin Mitchell partner and head of corporate in the North, told the Business Desk: "Crash-worth is a valuable addition for The Innovation Group and puts it in a very strong position in the UK’s motor claims management market."
Innovation Group is also set to buy building claims manager LAS Claim Management for £35 million. The deal is subject to the completion of fundraising, to include a £65 million fundraising share issue.
The deal would enable Innovation Group to enter the UK property market, with plenty of cross-selling opportunities across its customer bases.
_______________________________________________________________________
Related information:
View the latest businesses for sale
Business finance
Provides a multitude of property management maintenance services, such as plumbing, decorating, refurbishment, general maintenance, plastering, kitchen fitting and bathroom fitting. Having built up the business over the course of nine years, our clie...
LEASEHOLD
Offers a comprehensive range of industrial electrical installation and design services, including single and block cable drawings and testing. Designs and installs a variety of specialist control panels. Manufactured control panels include Form 2 wal...
LEASEHOLD
Achieved a turnover of £510k. Projected turnover of £600k. Has the latest, advanced CNC machinery, offering a first-class service. Holds long-standing relationships with several clients, with some in place for over 18 years. .
LEASEHOLD
15
|
Aug
|
Trainer reseller Kick Game exploring £150m sale | BUSINESS SALE
Trainer reseller Kick Game is reportedly considering a sale,...
12
|
Aug
|
Aviva to complete Succession acquisition and support further consolidation | BUSINESS SALE
Aviva is poised to complete its acquisition of wealth manage...
11
|
Aug
|
Flotek acquires Swansea-based legal and professional services IT provider | BUSINESS SALE
IT and Managed Service Provider (MSP) Flotek has acquired Sw...
Sign up to receive our acquisition alert emails to get your FREE guide
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