Oakley Capital Investments Limited has announced its agreement to acquire Steer Automotive Group, the UK's leading B2B automotive services platform. The investment, expected to be up to £90 million, will be made through Oakley Capital Fund V. Steer Automotive Group, founded in 2018, has expanded through 18 acquisitions and operates a network of over 100 repair centers, employing over 2,300 people and repairing more than 115,000 vehicles annually.
The group holds 43 manufacturer accreditations and was ranked 36th in The Sunday Times's list of 100 fastest-growing businesses in the UK in 2023. Founder Richard Steer and the current management team will continue to lead the business and reinvest alongside Oakley. The partnership aims to facilitate Steer Group's growth within the collision repair market, focusing on investment in facilities, development, training, and EV repair capability.
Oakley Capital Founder and Managing Partner, Peter Dubens, expressed the company's excitement to work with Steer Automotive Group, emphasizing their impressive growth and strategic vision. Richard Steer, Founder of Steer Automotive Group, highlighted the partnership with Oakley Capital as a means to fuel the next phase of their growth, leveraging Oakley's experience in supporting fast-growing businesses.
The investment aligns with Oakley's strategy to invest in exceptional founders with a clear strategic vision. The partnership with Steer Automotive Group is expected to further strengthen Oakley's position in the automotive industry and support the group's ambitious growth plans.
For further information, interested parties can contact Oakley Capital Limited or visit the Oakley Capital Investments Limited website.