Springboard is delighted to announce that it has supported Easy Autocentres on the refinancing of the business and the acquisition of Kingshurst Automotive.
About the deal
Easy Autocentres, led by Managing Director Chris Kisby, is a leading Midlands-based fast fit supplier of tyres, exhausts and car servicing. The business operates under the HiQ franchise and has a network of 19 units across the wider Midlands region.
Easy acquired Birmingham-based Kingshurst Automotive for an undisclosed sum in a deal led by David Neate and James Bailey of Springboard.
The deal was led for Springboard by partner David Neate and Assistant Director James Bailey. Commenting on the deal, David said “Easy Autocentres has been a longstanding client of Springboard. Since completing the management buy-out from Goodyear Dunlop in 2008, Chris has successfully repositioned the business, rationalising the number of stores to a profitable core. Having completed this program, the acquisition of Kingshurst marks the first stage in growing Easy’s footprint and consolidating its position as one of the leading independent fast fit operators in the Midlands. We are delighted to have supported Chris on the acquisition and refinancing of his business.”
How we made a difference
- Produced an integrated business plan for the two businesses;
- Identified and introduced a short-list of appropriate funding partners;
- Negotiated funding terms on behalf of the shareholders; and
- Project managed the deal through to a successful completion.
Chris Kisby - Managing Director, Easy Autocentres
We have worked with Springboard since completing the management buy-out in 2008. They are highly reactive and have been instrumental in developing my business. I see them as a trusted business partner and would have no hesitation in recommending them