Nationwide acquires JCC
Nationwide Accident Repair Services (NARS) and Just Car Clinics Group (JCC) announced today that they have agreed terms for Nationwide to acquire JCC for a cash consideration which values JCC at approximately £13.77m.
The offer remains conditional on the approval of shareholders of JCC and is expected to close in September 2015.
For Nationwide, the addition of JCC’s bodyshops is highly complementary, fitting well with Nationwide’s existing network of UK bodyshops and services.
The transaction to acquire JCC is Nationwide’s first major corporate move with its new investors, The Carlyle Group, which is supporting Nationwide’s management team in its ambitions to continue to build an offering which best serves its customers.
Nationwide provides integrated automotive crash repair and accident administration services to the UK insurance industry, fleet operators and retail customers.
The Nationwide group operates a national network of over 70 bodyshops across England, Scotland and Wales and has dedicated mobile repair fleets which repair light damage and automotive glass. Other services include accident administration, courtesy cars and salvage management.
JCC, the UK’s second largest accident repair group, was delisted from the AIM market of the London Stock Exchange in November 2011. The company is based in Goole, East Yorkshire, and has almost 30 branches.
Its bodyshops are located across a corridor from Swindon in the South West to Durham in the North East, with two further sites in Scotland.
JCC provides vehicle repair services to motor insurers, fleet and retail customers.