Drive Assist has restructured its finances and received a major investment from private equity group Charterhouse.

The replacement vehicle supplier has secured long-term funding arrangements with seven-year banking facilities and five-year committed vehicle stocking facilities.

Meanwhile, Stuart Woolley and Trevor Leggett have retired as Drive Assist directors.

Drive Assist chief executive Steve Binch is confident that the financial reorganisation will enable the company to go from strength to strength.