Fix Auto Franchisee Steve Peart Moves Over the Border and Takes Over Hereford Bodyshop
The owner of Five bodyshops in South Wales has added a sixth site to his portfolio, by taking over Cavanaghs Ltd in Hereford supported by Barclays.
Steve Peart, owner of the TST Group, has added the 34,000 sq ft bodyshop that will now operate as Fix Auto Hereford to his ever-expanding portfolio which incorporates his Fix Auto Cardiff and Fix Auto Pontypridd traditional bodyshops and two Fix & Go express repair centres in Swansea and Pontypridd along with his retail express outlet Love Your Car in Cardiff.
The move marks his first foray into England, and takes his group’s total workshop space to more than 100,000 sq ft, increasing his monthly repair capacity to more than 1,200 vehicles. In taking over the site he has managed to retain the workforce and all insurer contracts previously associated with the business.
Plans are already afoot to invest a further £210,000 and divide part of the existing traditional bodyshop into what will be Steve’s third Fix & Go express repair facility – and a hint that there may be further additions to the group.
A new management team, who will work with the existing staff to ensure a smooth transition of ownership, has been immediately installed.
Commenting on the move, Steve said:
“Taking over the site here in Hereford is a huge opportunity for us as a regional group, and further increases our UK footprint. At present, this business is repairing around 150 cars a month but, with the investment in our tried and tested express facilities, this will increase to over 260 vehicles.
“The facilities, staff and equipment here are already excellent and is a credit to previous owner Mike Cavanagh. TST Group is a very ambitious company and our first footsteps over the England border offers another exciting chapter for us.”
Jason Llewellyn, Barclays Relationship Director, said
“By really understanding the business and the industry sector, Barclays has been able to provide a funding package to support TST Fix Auto throughout this exciting expansion. Investment in the new premises demonstrates both Barclays and TST Fix Auto confidence in the success of the business. They have created a successful business model which has now ventured across the border into England . Who knows maybe in another five years we will see many more Fix Auto’s across England and maybe into Europe as the business continues to grow.”
Ian Pugh, of Fix Auto UK, said:
“Steve’s energy and enthusiasm for our industry is phenomenal, and I admire his entrepreneurial drive. Once again, we have a franchisee who is investing heavily to provide much needed capacity in a strategic location to ensure we are able to deliver on the needs of our clients.”