Steer announces Rainbow acquisition
- 5 May 2022
- Posted by: Alan Feldberg
- Category: News
Steer Automotive Group has announced the acquisition of the Rainbow Group as part of its strategy of expansion.
Rainbow Bodyshop Group was established by Andrew Walters and Richard Thorogood and now operates from six locations in the Home Counties, with manufacturer approvals for Mercedes Benz, BMW, MINI, Lexus and Toyota.
Richard Steer, chief executive, Steer Automotive Group, said: “We are expanding out from our recent London acquisition, into Hampshire and Berkshire, as part of our strategic positioning, focusing again on well-established and very successfully operated regional businesses, in addition to geographically increasing the core repair capacity of our day-to-day business. Bringing the Rainbow Group into the Steer family further compliments the breadth of manufacturer approvals for some of the world’s leading vehicle brands.”
As part of the deal, Thorogood will support Steer Automotive Group in a commercial capacity while its leadership team will remain in place.
Thorogood said: “I am proud of our continued business performance which has meant that it’s been the perfect time for the team at Rainbow to become part of the Steer family and recognise the next evolution in the business success.”