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.
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.