Derek Gladwin Limited

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“We’d had a serious approach from a serious potential buyer and it was something that we wanted to pursue.  However, we had no experience of selling a business and, after over 20 years spent building a successful business, we wanted to make sure that we got it right.  We met a couple of potential advisers but the chemistry simply did not work.  We were then introduced to John and the fit was much better from the start.

We felt that John’s advice was always genuine and he was fully committed to get us the best deal possible.  He was always available, even when on holiday, and he guided through a minefield of negotiation, due diligence and some extremely technical tax and accounting matters.  John’s input was critical in the drive towards completion and his negotiation around the final working capital position protected significant value in the deal.

Harvey Death
Managing Director and Owner
Derek Gladwin Limited

 

Derek Gladwin Limited (“Gladwins”) was acquired by Nationwide Accident Repair Services Plc (“Nationwide”) for £9.5m in a transaction advised by Skye Corporate Finance Limited.

Gladwins is the leading provider of automotive crash repair services in East Anglia. Operating from eight bodyshops in the region, Gladwins provides repair services to motor insurers, private consumers and fleet operators.

Nationwide is the largest dedicated provider of automotive crash repair services in the UK. The acquisition of Gladwins was seen as highly complementary to Nationwide’s existing operations and provided an enhanced presence in the Eastern Region.

Skye Corporate Finance Limited was appointed by Harvey Death to negotiate, structure and project manage the transaction, interfacing with Nationwide’s main Plc board and advisers on all sides. The deal was successfully completed against tight Stock Exchange deadlines.