Alton Cars repair group acquired in MBO
- 8 February 2022
- Posted by: Simon Wait
- Category: News
Alton Cars Accident Repair Group has been acquired in a management buyout (MBO) for an undisclosed sum.
Established in 1979, the business has grown to a turnover of £48.5m and has evolved into one of the largest independent collision repair groups in the UK, with 370 staff across 14 locations.
Alton Cars has working relationships with all the major insurers and accident management providers, boasts 23 manufacturer approvals across the group, and offers geographic coverage across Yorkshire, Humberside, Nottinghamshire and Derbyshire.
The MBO has been supported by Tony Parish, the exiting founder of Alton Cars, in order to establish a future succession plan for the business.
The MBO was led by managing director Julian Milner and commercial director Neilson Jones, with both taking on the role of co-MD on a joint basis moving forwards. The pair said the deal wouldn’t have been possible without the support of Alton’s senior leadership team, namely finance director Sophie Braithwaite, operations director, Graham Connell, procurement director Tom Butterworth, client director Jay Ali and HR director Tom Jones.
In a joint statement, Julian Milner and Neilson Jones said: “We are delighted to finally get the deal over the line. Covid has impacted on the timescale of the deal with it taking around 18 months from beginning to end. Fundamentally the senior team have been working together for many years now and have been instrumental in [the company’s] growth and culture, ensuring that it can deliver upon its promises made to its work providers, which will create the foundation stones to take the business to the next level.”