Investment firm Mobeus has invested £9.5m to support the management buyout of ABL 1Touch accident repair group.
The transaction sees Mobeus back the incumbent ABL 1Touch management team, who have built the group to a 13-site network across southern England. The team will be supported by experienced industry figure Bill Duffy, previously of Nationwide Autocentres, who has joined the board as non-executive chair.
ABL 1Touch has doubled its turnover during the last three years and, following the buyout, will continue to expand its regional footprint supported by Mobeus, as it looks to almost double the number of operating sites during the investment term.
The transaction was originated and led by Freddie Bacon, who worked on the deal with Mobeus partner Richard Babington and Matthew Gordon-Smith.
Freddie said, “Our investment will enable ABL 1Touch’s ambitious management team to take the business to the next stage of its growth trajectory. Jonathan, Graham and Duncan have impressive forward-thinking plans and we are delighted to be backing such a leading service provider in the industry.”
Mobeus, the SME investment business, describes ABL 1Touch as ‘a tech-enabled automotive accident repair group’.
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