Autoclenz shines with £4m MBO support from RBS

31-1-2013 — /europawire.eu/ — Swadlincote-based outsourced car valeting provider Autoclenz Holdings Plc has undergone a successful £4m Management Buy-Out (MBO) with funding support from the Royal Bank of Scotland (RBS).

Through the MBO, Autoclenz Ltd, and its subsidiary Autoclenz Services Ltd, have been taken over by existing directors Grahame Rummery and Trevor Clingo and divisional directors Deryck Worrall and Martin Ward. In addition two new investors have joined the team as directors: Adam Reynolds and Paul Foulger.

Autoclenz provides car dealerships and similar businesses with high-quality car cleaning and valeting services. It has become a leader in its field and counts top marques such as Audi, Bentley, BMW, Mercedes and Porsche as clients. It also works with leading car rental firms such as Avis, Budget and Europcar.

As well as managing the hi-spec cleaning process for its clients, the firm has invested in value-added enhancements such as computerised account management and pay-per-vehicle contracts as it looks to cement and grow its position in the UK car market. Following the MBO, the company will look for further market opportunities and focus on delivering a first-class service to its clients as it pursues its UK-wide market growth strategy.

The £4m facility was provided jointly by the Nottingham team at RBS Corporate & Institutional Banking (CIB) and RBS Invoice Finance. RBS CIB has also become the day-to-day banking partner for Autoclenz Ltd.

“The MBO has allowed the management team at Autoclenz to really focus on growing the business. We have been thoroughly impressed by the support from the Royal Bank of Scotland and believe that we have an excellent opportunity to develop Autoclenz further into a premier UK brand that Swadlincote can be proud of.”

Trevor Clingo, finance director at Autoclenz Ltd

“The management at Autoclenz has a clear strategy for the firm and we’re delighted to be part of the new team. The firm provides an in-demand, high-quality service to car dealerships and similar businesses across the UK and we’re confident it has a very strong future.”

Philip Grimshaw, regional director at RBS Corporate & Institutional Banking

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