Birketts have acted for the shareholders in the sale of Vehicle Replacement Group (VRG) to professional services and technology firm, Davies Group for an undisclosed sum.
The deal was secured by a team from across Birketts’ divisions, led by Senior Partner James Austin and Senior Associate Rachel Astill (Corporate). The team included Partner Andrew Tubb (Banking), Partner Mark Gipson (Corporate), Legal Director Stacy Aspden (Commercial Property), Senior Associate Jennifer Leeder (Employment) and Solicitor Sarah Branwhite (Corporate). FRP Advisory’s Norwich team were the lead corporate finance and tax advisors.
VRG has established a fantastic industry reputation through a unique, market-leading service offering to blue-chip clients. Based in Birmingham but with offices nationwide, they are a leading specialist provider of vehicle solutions to insurers, brokers and fleet providers in the UK.
VRG Founder and Managing Director Matt Corby will continue to lead the business when the deal completes, expected to be before the end of the year.
Speaking about the sale, Birketts’ James Austin said: “It was a real pleasure working with Matt and his team and there is no doubt that VRG has an exciting future as part of the Davies Group. The work of Rachel and the team on this deal was exceptional and the breadth of their expertise ensured a smooth transaction for all parties.
As a full-service firm we can offer a comprehensive service to any client facing the same complexities as VRG, addressing all their employment, tax and business concerns. We wish VRG and Davies every success for the future in 2021 and beyond.”
VRG’s Matt Corby added: “I cannot thank Birketts enough for their work. The level of detail professionalism and hard work applied by James, Rachel and the team to every aspect of this transaction was invaluable and exactly the reassurance I needed, not just as Managing Director but Founder of VRG. I could not recommend Birketts highly enough and look forward to an exciting period of growth ahead with Davies Group.”
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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 2020.