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PKF Francis Clark has advised the shareholders of Halo Accident Repair Centre Ltd on the sale of the business to IRS Group, a fast-growing firm with vehicle repair operations in Germany, Belgium, Denmark and Sweden.
Halo operates 10 vehicle accident repair centres, primarily in the South of England, serving the insurance claim market. The business has grown rapidly in recent years, opening five new sites since 2018.
Following the deal, Halo directors and co-owners Ros and Bradley Hanson will continue to lead the business as part of IRS Group, which following recent acquisitions in Europe now has 170 centres.
At no time did we feel alone, making PKF the perfect partner during this difficult but important process.
Corporate Finance Partner Paul Stout said: “Halo Accident Repair Centre is a highly successful business which has built a market-leading reputation with UK insurers for its innovative and efficient approach to vehicle repairs.
“The acquisition is an excellent strategic fit for IRS Group as it enters the UK market. We look forward to seeing Halo thrive as part of a leading multinational group, with Ros and Bradley continuing to play a key role in driving innovation and expansion.”
The PKF team helped Ros and Bradley to realise the value of their hard work over many years by conducting an in-depth analysis of the financial data to demonstrate the underlying strength of Halo, adjusting for the economic impact of Covid. They then marketed the business both in the UK and overseas, with support from colleagues in the PKF International network, resulting in a competitive bidding process.
Commenting on the support from PKF Francis Clark, Bradley said: “Working with a partner who could ensure a professional approach to potential buyers or investors was vital for us. PKF delivered this and more, from supporting us in all areas of the business sale at a transactional level, through to mental wellbeing and coaching us for meetings with prospective new partners and owners.
“At no time did we feel alone, making PKF the perfect partner during this difficult but important process. The team brought great expertise that proved key in gaining the perfect buyer for us.”
Find out more about PKF Francis Clark’s corporate finance team.