Independent UK car supermarket chain Carcraft has been subject to a management buyout led by Robin Bridge, the current chief executive, with support from Apollo Ventures.
The buyout comes 16 years after the previous owners, the McKee Brothers, bought the car retail business from their father Frank McKee.
Go deeper with GlobalData
Since that time the business has grown into one of the most successful car supermarkets in the UK and generated operating profits in excess of all of their main competition combined, according to the buyout announcement.
The brothers, Noel and Darren, however, have diversified their own business portfolio since their takeover and said in a statement they had not been active in running the business in the last five years and this was constraining the business’s ability to realise its full potential.
The price paid by Robin Bridge and his team was not disclosed at the time of the buyout’s announcement but the company had an EBITDA of £198m and turnover of £3.2bn.
Advisors on the deal included Hogan Lovells, Collyer Bristow, Pinsent Masons and PwC
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
