On Thursday 24th July, Nationwide Accident Repair Services Limited (“Nationwide Repairs”) announced a recommended cash offer of £13.8m for Just Car Clinics Group plc (“Just Car”).
Just Car is the second largest accident repair group in the UK, providing vehicle care and maintenance care to motor insurers, fleet and retail customers. It has 28 bodyshops located across England, with two further sites in Scotland.
Nationwide Repairs, owned and controlled by Carlyle Strategic Partners, is a provider of automotive crash repair and accident administration services to the UK automotive insurance industry. With over 70 repair centres located throughout the UK, it is the largest dedicated provider of accident repair services in the UK and has relationships with a number of motor insurers, including R&SA, Aviva and Zurich. It also provides its services to fleet operators.
Barry Whittles, CEO of Just Car Clinics, said: “We are delighted to have reached this agreement with Nationwide, which has the unanimous support of all JCC directors. We believe that the two companies fit well together. Nationwide is well-respected in the sector and we look forward to combining our strengths in order to deliver our customers enhanced services.”
Michael Wilmshurst, CEO of Nationwide Accident Repair Services, said: “Just Car Clinics is one of the UK’s leading independent bodyshop groups and I am delighted that we have reached an agreement with its board on the terms of a recommended cash offer.”
Smith Square acted as financial adviser to Nationwide Repairs.