Komoo, a UK-wide network for fleet repair sites, as been acquired by Steer Automotive
Cardiff – CFI is pleased to announce it acted as exclusive financial advisor to Komoo in its acquisition by Steer Automotive Group.
Komoo has an established UK-wide network of fleet repair sites located near airports and vehicle storage hubs. The company provides a dedicated, priority ‘round the clock’ repair service to vehicle rental and fleet businesses. Since the company’s inception in 2020 the company has grown to 17 sites across the UK.
With its established network of fleet repair sites located near airports and vehicle storage hubs, Komoo brings extensive expertise in providing rapid, high-quality repair services, supporting vehicle rental and corporate fleet customer bases. These strategically positioned sites enable Komoo to offer swift and efficient repair services, minimising downtime for clients. Their proximity to major transportation hubs allows for seamless logistics, ensuring that vehicles can be serviced and returned to operation quickly.
Founded in 2018 by serial entrepreneur Richard Steer, Steer Automotive has expanded through 18 acquisitions, establishing a network of over 100 repair centres, repairing over 115,000 vehicles per year. The group facilitates repairs through its core passenger car and prestige repair centres, luxury brand centres and commercial vehicle locations.
Steer is a key partner for the UK’s leading vehicle insurers, accident management companies and OEM dealerships, holding 43 manufacturer accreditations, including recommendation and approval for major brands such as Porsche, Rolls Royce, Bentley, McLaren, Lamborghini, Aston Martin, JLR, Tesla, Mercedes Benz, Volkswagen Group, Stellantis and Ford.
The acquisition of Komoo aligns with Steer’s vision of becoming a leading provider of superior automotive repair services across a wider market, providing strategic diversification in the repair market.
Carl Henderson, Managing Director of Komoo, Dale Peart, Director of Komoo and Jordan Ashmore, Operations Director, remains at the helm of the company, supported by Steer, to focus on providing outstanding repair services to the fleet and vehicle rental market.
Carl Henderson said, “Becoming part of Steer Automotive Group marks a significant step forward for Komoo. This integration will enable us to leverage Steer’s extensive resources, enhancing our ability to deliver rapid, high-quality repair services to a broader customer base. We are eager to begin this new chapter and contribute to Steer’s growth and success.”
This transaction closed on 31 July 2024.
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