Birketts has advised top-tier real estate company Jordan Inc. on the acquisition of premier vehicle maintenance business Chelmsford Accident Repair Specialists (CARS).
Founded in 1991 by Jason Rickett, CARS employs over 30 people and is based in Chelmsford. In 2016 CARS joined the Fix Auto UK network, and experienced an impressive period of growth, expanding to acquire new offices and servicing bays in addition to the bodyshop.
Now consisting of a one-stop shop repair space, the family run independent vehicle maintenance business offers bodyshop restoration, servicing and MOT facilities, as well as the installation of a wide range of accessories. The company also boasts official manufacturer approvals from Suzuki, Hyundai and Mazda. Owner and manager Jason Rickett begun stepping back from the business about 18 months ago, with the sale to Jordan Inc. enabling him to retire.
The transaction was led by Adam Jones with assistance from Devreaux Gravell (Banking) and Matt Grindley (Property).
Mike Kirkham, owner of Jordan Inc., commented: “The acquisition of CARS was a mutually beneficial deal for all involved. Having known the business for many years, I recognised this as an unique opportunity to build on the strong foundations created by the Rickett family to take the company forward to further success.”
Mike continued: “Birketts impressed us throughout the transaction process and we were delighted with their exceptional support. Efficient, straight talking and easy to get hold of, it was very reassuring to have the guidance of a commercially-minded team behind us.”
Adam Jones concluded: “It was a privilege to assist Mike Kirkham in bringing this key investment acquisition to a successful close. Mike’s understanding of the local business climate affords him the specialist insight he needs to continue the success of this highly regarded Chelmsford-based business.”
Key Contacts
The content of this article is for general information only. It is not, and should not be taken as, legal advice. If you require any further information in relation to this article please contact the author in the first instance. Law covered as at December 2019.