Press release -
Derby based vehicle repairs and servicing business sold out of Administration
The future of Elite Auto Centres (Derby) Limited has been secured, having been sold in a pre-packaged deal shortly after entering Administration, with the business and its assets being transferred.
A full-service motor vehicle garage, Elite Auto Centres offers a wide range of vehicle repairs and is a DVSA approved MOT test station with capacity to MOT cars, minibuses and vans. Despite substantial efforts from its owners, the business found itself operating in an unsustainable manner, opting to conduct an accelerated sales process to secure its future.
With the company still in Administration, the business and its assets, which includes 4 members of staff, have been acquired by Elite MOT Station Limited, a Company directed by Mathew Lowe.
In light of the deal, Mathew comments “I am delighted to be completing the deal. The previous owners of Elite Auto Centres have established a reputable business that offers a one stop shop for repair and maintenance requirements in a prime location in Derby, and I am looking forward to enhancing our offering even further.”
Dean Nelson and Nick Lee from Smith Cooper, award winning accountants and business advisors were appointed Administrators on Tuesday 20th August 2019 to consolidate the sale, helping secure the best outcome possible.
Dean Nelson, Head of the Business Recovery and Insolvency division at Smith Cooper comments “We’re delighted to have secured the successful sale, and I am optimistic about the future of Elite Auto Centres. I’m confident that Mathews extensive experience in the automotive sector will assure the businesses future going forward, and that customers will continue to receive reliable, quality services that they have become accustomed too, delivered with integrity and affordability.”
“We wish Mathew and his team the best of luck.”
Categories
Regions
Smith Cooper is one of the largest independently owned and preferred accountancy and business advisory firms for owner managed businesses across the Midlands. The firm specialises in providing intelligent, efficient and cost-effective bespoke advisory services to both corporate and individual clients. Smith Cooper has six offices across the Midlands including Derby, Birmingham and Nottingham.
