The deal

Chiltern Capital invests in Rapid Repair Network

The Debt Advisory team at FRP Corporate Finance is delighted to have advised private equity firm, Chiltern Capital on its investment of a leading provider of same-day accident repair solutions, Rapid Repair Network.

Rapid Repair Network has grown strongly since being founded in 2018, developing a strong market position that underpins its ambitious future growth plans. Rapid Repair Network has successfully grown its customer base and service capabilities and now delivers more than 10,000 same-day repairs per year to leading accident management companies, fleet operators, and insurers supported by 100% UK mainland coverage.

Chiltern Capital is a dedicated lower mid-market investor with a focus on supporting ambitious management teams to deliver on their growth objectives and a successful track record in the automotive repair space, including the recent exit of Steer Automotive Group. Chiltern will play a crucial role in supporting the team at Rapid Repair Network to drive further growth of the business.

Our Debt Advisory team, led by Partner Tom Cox, Director Stuart Sweeney and Senior Manager Amit Bagga were appointed as exclusive debt advisers to support Chiltern Capital with the buyout financing for Rapid Repair Network. The team efficiently managed a selection process with several lenders to determine the best financing package for the transaction and added value through securing a flexible funding package from ThinCats, which delivered an optimum runway for future growth.

Tom Cox, Partner at FRP Corporate Finance, said: “Chiltern has significant experience in the automotive repair sector and this investment represents an opportunity to back an entrepreneurial team in a robust and growing sector, leveraging a highly scalable outsourced model, backed by a strong customer base including accident management companies and insurers.

“ThinCats stepped forward efficiently to deliver a bespoke financing package that ticked all the requirements of our client – providing substantial flexibility to execute management’s exciting growth plan.”

Ben Robinson, Investment Manager at Chiltern Capital, said: “We are delighted to partner with Rob and the wider team, who have developed Rapid Repair Network into a market leader in same-day repairs. From our investment experience in Steer, we have a strong understanding of market dynamics and Rapid Repair Network is well positioned to capitalise on its demand-supply trends. We look forward to supporting them with their exciting plans to expand the business further.”

Chiltern Capital were advised by FRP Corporate Finance (Debt Advisory), Marriott Harrison (Legal) and James Cowper Kreston (FDD).