Shoosmiths has advised in a dual role on the sale of RED Driving School (RED), the largest group of driving schools and driving instructor training schools in the UK.
The firm has acted for both Kelso Place Asset Management (KPAM) - a UK based private equity firm - on the sale for an undisclosed amount, and for RED’s CEO, Ian McIntosh and his management team on their investment into the group alongside lead investor, Trimountain Partners.
Trimountain Partners, an international private equity firm led the management buyout of RED and will jointly manage the investment with Ashridge Capital, a UK firm focused on equity investments.
Headquartered in Billingham, County Durham, RED has won numerous awards including the Feefo Trusted Service Award 2019, an award based on customer interactions. With just under 1,500 driving instructors, RED operates throughout England, Scotland and Wales with a large market presence and high visibility within the driving school sector.
The Shoosmiths team comprised Amit Nayyar, partner and fellow corporate team members Holly Hirst and Luke Bernard.
Amit Nayyar said: “Having acted for Kelso Place on the original buy-out back in 2011, it is particularly pleasing to help deliver this deal. The business has gone from an uncertain future to seeing growth and profitability during the seven years Ian McIntosh and his management team have helmed RED Driving School.
“RED is one of the biggest driving schools in the marketplace and Shoosmiths relished the chance to provide this British business success story with corporate legal advice. We can’t wait to see the next chapter of their story.”
RED and KPAM were advised on the sell-side of the transaction by Shoosmiths and Grant Thornton. Trimountain Partners were advised on the buy-side by Mishcon de Reya, Grant Thornton, Rees Pollock and Aon.