Shoosmiths law firm advises on MBO of UK's biggest driving school in Billingham
Billingham’s RED Driving School has been sold in a deal advised by law firm, Shoosmiths LLP.
RED is said to be the biggest group consisting of driving schools, instructors and driving instructor training academies in the country.
Shoosmiths acted for private equity firm, Kelso Place Asset Management (KPAM) on the sale. The sum has not been disclosed.
RED’s CEO, Ian McIntosh and his management team were also advised by Shoosmiths on their investment into the group alongside investor, Trimountain Partners, an international private equity firm which led on the MBO of RED.
Part of the Shoosmiths team, Amit Nayyar said: “Having acted for Kelso Place on the original buy-out back in 2011, it is particularly pleasing to help deliver this deal.
“The business has gone from an uncertain future to seeing growth and profitability during the seven years Ian McIntosh and his management team have helmed RED Driving School.
“RED is one of the biggest driving schools in the marketplace and Shoosmiths relished the chance to provide this British business success story with corporate legal advice. We can’t wait to see the next chapter of their story.”
Headquartered in Billingham, RED has won many awards and holds just under 1,500 driving instructors. It operates across England, Scotland and Wales.
RED and KPAM were advised on the sell-side of the transaction by Shoosmiths and Grant Thornton.
Trimountain Partners were advised on the buy-side by Mishcon de Reya, Grant Thornton, Rees Pollock and Aon.
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