“Déjà Vu” as ChipsAway complete a remarkable transaction - October 2008

Leading franchise group ChipsAway has just completed a remarkable transaction. The business, which was bought by Myhome International in 2007, has just been repurchased by the ChipsAway management team.

The team, headed up by experienced franchisors Roger Wild and Steve Bignell, were delighted to take advantage of the opportunity to regain control of a company that is close to their hearts. “This is a great day for ChipsAway, Autosheen and PCC,” says Group Chairman Wild, “Our franchisees, staff and suppliers are delighted that we have the businesses back under our wing again. Each business has fantastic development prospects and the management team, headed by CEO Lloyd Evans, is most excited about the future.”

The timing coincides with a growing public awareness and increasing demand for SMART repairs on damaged car paintwork – a process invented by ChipsAway. Additionally, many large international insurance groups are approaching ChipsAway, seeking to secure access to their services. CEO, Lloyd Evans comments, “The insurance sector is just waking up to the benefits of providing both ChipsAway repairs to their clients, and reducing their repair costs. We see this market growing massively in the next five years!”

Established in 1994, the ChipsAway group, which includes valeting businesses Autosheen and Professional Car Cleaning, is the largest automotive franchise group in the world, with over 400 UK franchisees and operations in numerous countries including Russia, South Africa and most of Europe. The management team was partnered in the acquisition, by highly experienced entrepreneurs, Nigel Wray and Stephen Hemsley (of Dominos Pizza fame).

Commenting further, Wild added “I am delighted that we are going into this next stage of our business growth with such influential fellow investors as Nigel and Stephen. Their involvement can only strengthen one of the most experience teams in European franchising.

...back