A CAR repair specialist has been acquired in a major corporate deal, it was revealed yesterday.
Chesterfield-based ADR (Accident Repair Centres) has been sold to AutoRestore for an undisclosed sum. As a result of this deal, the company becomes the second largest vehicle body repair group in the UK, employing more than 500 people.
AutoRestore is the sister company of AutoGlass, and is part of the global Belron group, which is the world’s largest vehicle glass repair and replacement company.
The negotiations surrounding the purchase of the Derbyshire-based company, which provides repair services for cars and vans, involved a number of well-known Yorkshire deal-makers.
Ian Marwood, Claire Davis, and Krista Fox from Grant Thornton in Sheffield led the team of advisers who represented the vendors. Legal advice was provided by Jeremy Thompson of Nabarro in Sheffield.
Established 30 years ago by Andy Blair, ADR has grown to a £25m turnover business with 325 staff, which provides repair services from 11 centres across the UK, including a site in Pontefract.
Mr Blair, managing director of ADR, said: “This is fantastic news for ADR customers and staff. As part of a larger international group serving the automobile market, the company will be in a secure position to take advantage of opportunities to grow and develop.”
Claire Davis, of Grant Thornton, said: “Andy started his career as a mechanic and built the company from scratch – we’re delighted to see his years of hard work realised.
“This is a mutually beneficial deal with the acquisition of ADR also strengthening Belron’s offering by complementing its existing auto businesses.”