Accident management specialist MVRA bought
The Capita Group has acquired motor trade body and accident management specialist, MVRA, for an undisclosed sum.
MVRA provides specialist support to organisations involved in the repair of motor vehicles, including repairers, insurers, government departments and governmental agencies.
It will become part of Capita Insurance Services, which already provides large scale outsourced services to the insurance industry.
Richard Holland, managing director, Capita Insurance Services said: "MVRA offer a good strategic fit with the existing businesses of Capita Insurance Services. Growing Capita’s presence in the UK motor trade motor support and services sector is a key objective and we believe that MVRA provides unrivalled experience-based knowledge and a high quality, market-leading proposition.
"As part of Capita, MVRA will have access to all the support and resources they need to build on this strong platform. This investment will enable us to create a business that can support the motor insurance industry as it deals with the challenges presented by increased regulations and new materials, in an increasingly competitive market."
Mike Monaghan, CEO of MVRA, saidL: "In order for MVRA to deliver all of our proposed membership benefit enhancements we needed to find a partner who shares our service led philosophy and backed our belief in the UK motor trade market. In Capita we have found this partner and today’s deal has fundamentally enhanced our capacity to service our key markets.
Our plans are ambitious, but we believe as part of Capita we now have the long term security and capability to make a real difference to businesses working within this challenging market. In addition, our staff will have exciting opportunities to grow their skills and careers over the long term as part of Capita."