Kindertons creates UK’s largest taxi credit hire organisation with the acquisition of Sovereign Automotive
Sovereign Capital, the UK private equity Buy & Build specialist, is pleased to announce the acquisition of Sovereign Automotive by portfolio company Kindertons. Sovereign Automotive provides credit hire taxis to not-at-fault drivers from its fleet of taxis and prestige vehicles, doubling Kindertons’ capacity in this niche area of expertise to become the UK’s largest taxi credit hire provider.
Kindertons is a nationwide provider of outsourced accident management services for motor insurers and insurance brokers together with claims management services for drivers who have been involved in a road traffic accident.
Sovereign Automotive, based in Epsom, adds both new referral relationships to Kindertons as well as further capacity to service the Greater London area. The combined Group now generates over 35,000 vehicle hires per annum from its fleet of approximately 4,000 vehicles delivered from 14 depots Nationwide.
Kindertons has grown significantly under Sovereign’s ownership, growing staff from 450 in 2013 to over 780 today, increasing revenues by 74% to c.£93m and more than doubling its fleet, with a particular focus on prestige vehicles, 4x4s, taxis and motorbikes.
Neil Cox, Partner, Sovereign Capital said: “We are delighted to support the Kindertons management team with their second acquisition, extending their existing taxi hire offering and referrer base.”
Neil Cunningham, Group CEO, Kindertons added: “I have been very impressed with the Sovereign Automotive team who, like Kindertons, are totally committed to delivering exceptional customer service. We are pleased to be developing this high-value area of our business and support taxi drivers to get back on the road as quickly as possible. Kindertons’ continues to achieve considerable growth and we look forward to taking the business from strength-to-strength.”
Steve Bilham, Managing Director, Sovereign Automotive said: “Kindertons is the ideal fit for Sovereign Automotive as we combine our expertise and strong customer ethos. We are excited by the opportunities that being part of a larger, national company provides to both our customers and staff.”
For further information please contact: Julie Sieger, Sovereign Capital, on +44 (0)20 7340 8800 or email:email@example.com