Farleys’ corporate and commercial specialists have advised one of the UK’s leading independent vehicle repair groups on the restructure of the business and disposal of multiple sites.

Over 25 years, Innovative Repair Group (IRG) have built a reputation as a leader in its field with repair centres situated across England and Wales. The IRG shareholders recently took the decision to re-evaluate the business’ portfolio and restructure to better place the business going forward.

Farleys’ corporate partner Richard Bell and commercial property associate partner Molly Greenwood advised the shareholders on a complex deal involving the disposal of six sites to buyers Steer Automotive Group (SAG). The sites were located in Whitland, Swansea, Pontypridd, Bristol, Birmingham, and Wolverhampton.

IRG will now continue to trade from six remaining sites in Wales, in Cardiff, Pontypridd, Hereford, Bridgend, Newport and Merthyr.

Daniel Lewis, Financial Director at Innovative Repair Group commented,

We are extremely grateful to Richard Bell and Molly Greenwood at Farleys Solicitors for their support on what is a very important and exciting milestone for us as a management team. Both Richard & Molly project-managed us through a complex sale process and ensured multiple stakeholders were aligned. We wouldn’t hesitate in recommending Farleys to anyone looking to go through this process.

Richard Bell added,

“We really enjoyed advising and supporting Dan, Lee and Joe on this deal as well as working together with Kevin Steven and his Corporate Finance team at Pierce. The wider team at Farleys worked hard for a successful outcome and navigated a complex and challenging transaction with professionalism and enthusiasm. We look forward to seeing how IRG moves forward with their retained business and working with them into their exciting new future.”

If you’re looking for legal advice on the sale or acquisition of assets, or the business as a whole; or restructuring, our corporate and commercial law specialists can help. To discuss your requirements with a member of the team, please call 0845 287 0939 or complete our online contact form.