Tyne Tees Vehicle Repair Group

Tyne Tees Vehicle Repair Group

Sector: Automotive
Deal: Exit (Private Equity Backed)

Tyne Tees Vehicle Repair Group acquired by Steer Automotive Group.

Website: www.steer.co.uk/

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Tyne Tees Vehicle Repair Group

WilliamsAli Corporate Finance is pleased to have supported Washington-headquartered business receive a major boost by becoming part of the Steer Automotive Group, which is backed by growth specialists, Chiltern Capital.

Founded in 1970, Tyne Tees Vehicle Repair Group has grown into one of the largest and most highly respected regional repair specialists in the UK, with reported turnover of £8.3m in its most recent filed accounts.

WilliamsAli supported TTVRG owner and managing director, Darren Norton, in securing and negotiating the transaction.

Darren has joined the Steer Automotive team as part of the deal, and will play a key role in the Group’s future strategy to broaden its footprint both inside and outside the North East region.

He said: “This is an exciting moment for our business, as we join an ambitious and progressive group in which all our existing employees, suppliers and customers can thrive. I am looking forward to continuing to lead and grow TTVRG’s outstanding workforce backed by the expertise and resources of our new colleagues within Steer Automotive”.

Phil Williams, partner at Williams Ali Corporate Finance, said: “This is a significant deal for the sector on a national level and an outstanding deal for this region, which will see inward investment to support further growth. It has been a real pleasure to work with all involved to achieve this result”.

Of WilliamsAli, Darren said

“Phil approaches his work with a level of technical expertise that is second to none. There were specific complexities attached to this deal including some of which were last minute in nature, and he approached this with a willingness to overcome and achieved just that.

The level of rigour from Williams Ali was incomparable and the efforts that they undertook on my behalf were exceptional. I cannot speak more highly of them.”

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