Listed crash repair services provider Nationwide Accident Repair Services has purchased Cheshire-based claims management firm Aquilo Motor Services for £1.275m.
The acquisition is split equally between cash and net assets, adjusted for creditors and a rent free period. Aquilo had a turnover of £6.1m for the first six months of the year.
Michael Wilmshurst, Nationwide chief executive, said: "We believe that this is an important and strategic acquisition extending our expertise in ‘first notification of loss' handling.
"It enables us to offer our insurance, fleet, broker and claims management customers a complete support service in the automotive repair market. We now have the capability to handle initial calls, deploy work to customer-designated repair networks, handle and manage claims and offer full vehicle repair services across the UK. Our customers can choose to use all or just part of the service that we offer in a manner that suits their business objectives”.
“Additional benefits of this acquisition include the ability to offer our customers management information throughout the complete claims process. It is our intention to retain the facilities at Northwich and we look forward to developing the business further."
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