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Sector: Business Services
Status: In Portfolio
Fund: III
Deal type: Management buyout
Investment date: January 2024
Activate Group provides accident management services to insurance groups and corporate fleet operators through its Motor Repair Network (MRN) and sopp+sopp brands.
It undertakes vehicle repairs either in-house through its own Activate Accident Repair centres or externally through its UK-wide network of third-party repairers.
The business also includes a specialist parts supplier, Activate Parts, which offers next day parts and consumables to the automotive industry.
“Elysian Capital has an outstanding track record of supporting fast-growing businesses like ours.
During the process, it became clear that there was an alignment of values and entrepreneurial spirit and I’m confident their investment and support will allow us to take Activate Group to the next level and move faster in delivering our key strategic priorities.“
Hannah Wilcox
CEO
Investment rationale
Activate has grown rapidly since it started in 2015. There is a material undersupply of repair capacity in the UK market with claims frequency rebounding since the pandemic. At the same time, vehicle repairs are becoming increasingly difficult with more complex equipment and skills required to repair modern vehicles. There is therefore significant demand for Activate’s repair services in the market and the Group’s business plan is focussed on increasing its capacity through the opening of further in house repair centres in underserved areas.
Access to capacity is a strong differentiator for the business in front of their corporate fleet and insurance customers and will help the business win new customers in the market.
Activate’s investment in its own technology underpins its service offering, allowing it to adapt quickly to the needs of the market and offer flexible, tailored services to its customers.
The business’ proprietary claims management system enables itto provide market leading “key to key” times which benefit both its customers and their clients, minimising the time a vehicle is off the road.
Creating value
We will work with management to support the opening of additional repair centres to complement the capacity within the partner network. The plan is to open multiple sites each year and Elysian has committed additional capital to execute this plan.
Continued investment in technology will enhance the group’s position by enabling additional services for its customers to help minimise repair costs through claim management efficiencies, reduced “key to key” times and improving parts procurement.
Under our ownership, Activate has: