M&A Advisory

iRG Group

Adviser to specialist accident repair group, iRG Group, on its MBO.

The deal

We’re pleased to have acted as lead adviser to the management buyout (MBO) of iRG Group, the accident repair specialist, with funding provided by ThinCats.

iRG, established in 1999 by Steve Peart, is a specialist accident repair group with sites across South Wales, Bristol and Hereford. The company works with several large insurance and accident management companies and also holds OEM approvals with the majority of car manufacturers.

Our Corporate Finance team, led by Director Thomas Edwards advised the senior management team throughout the MBO transaction process. The team introduced the MBO to a number of prospective funders and helped identify ThinCats as the preferred partner to support the transaction – negotiating terms with them through to successful completion.

The deal was led by the senior management team of Lee Wallbank (Managing Director), Daniel Lewis (Finance Director) Phil Dawson (Compliance and HR Director) and Joseph Moore (Commercial Director).

Thomas Edwards, Director at FRP Corporate Finance, said: “We are delighted to have advised the management team on this transaction. iRG is an excellent business with a great customer base and strong reputation in the marketplace. We worked closely with the management team to refine its business plan and projections, and structure a funding package that allowed them to facilitate the MBO whilst also allowing the business to continue along its current growth trajectory.”

Lee Wallbank, Managing Director of iRG Group said: “We are extremely grateful to Thomas and the team for their support on what is a very important and exciting milestone for us as a management team. They walked us through how the MBO process worked and helped us put together the business plan and financials that were needed to source the required funding. We wouldn’t hesitate in recommending them to anyone looking to go through this process.”

Deal summary

Date:

January 2020

Sector:

Automotive

Deal type:

Management Advisory

Deal size:

Undisclosed

Related team

Thomas Edwards

Thomas Edwards

  • Director
  • Corporate Finance
  • Cardiff