Service King Co-Owner Offers To Buy UK Auto Body Chain
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Service King Co-Owner Offers to Buy UK’s Largest Auto Body Chain

Carlyle Group’s offer of $64 million to buy Nationwide Accident Repair Services subject to shareholder approval.

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Service King co-owner Carlyle Group announced Wednesday, April 1 its offer to buy the U.K.’s largest auto body chain, Nationwide Accident Repair Services, for over $64 million.

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The deal, supported by Nationwide’s management, is subject to shareholder approval.

The deal will loosely translate to $927,000 for each of its more than 70 collision repair shops.

The filing states a planned review of the Nationwide operations could affect “employee base, locations and operations.” This means that layoffs or the closure of shops could be a possibility.

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