24th Jul 2015 09:32
(Correcting Nationwide's ownership and share price)
LONDON (Alliance News) - Nationwide Accident Repair Services Ltd on Friday said it has struck a GBP13.8 million deal to acquire Just Car Clinics Group PLC, the car repairs and body shop business.
Nationwide will pay 118 pence per share in cash for Just Car Clinics, to be funded by existing cash resources.
Nationwide was acquired by US private equity house Carlyle Group, which owns the RAC breakdown assistance business, at the start of June and de-listed from AIM at the same time.
The Just Car Clinics deal marks the latest in a series of acquisitions by the company in the past couple of years, including of Howard Basford and Gladwins in September 2014 and of Seward Accident Repair Centres earlier this year.
By Sam Unsted; [email protected]; @SamUAtAlliance
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