We are delighted to have advised Driving Success Limited on their MBO.
Driving Success Limited (trading as RED Driving School) is the largest driving school in the UK with nearly 1,500 instructors, a national instructor training division and an accounting services business, FBTC. The company is headquartered in Billingham, County Durham, and has won numerous awards including being named 2018 First National Driving School of the Year.
Kelso Place Asset Management (KPAM) acquired RED from administration in February 2010, providing significant support and recruiting Ian McIntosh as CEO. Under Ian’s leadership the business pivoted from an instructor training business, growing to the UK’s largest driving school.
The acquisition represents a secondary private equity buyout, led by Trimountain Partners with Ashridge Capital, in partnership with management and certain investors led by Downing LLP, who will jointly manage the investment.
We were approached by KPAM to lead on the sale of the business, delivering a new partner to back RED’s ambitious growth plans, further consolidating what is a highly fragmented sector and launching into the fleet training market.
As part of the transaction, we provided lead advisory services as well as transaction tax, and buyside financial and tax due diligence services.
We were approached by KPAM to lead on the sale of the business, delivering a new partner to back RED’s ambitious growth plans, further consolidating what is a highly fragmented sector and launching into the fleet training market.
As part of the transaction, we provided lead advisory services as well as transaction tax, and buyside financial and tax due diligence services.
