Oakley Capital, the pan-European private equity investor, announced it has reached a conditional agreement to invest in Steer Automotive Group, the UK’s largest independent collision repair group.
Founded in 2018 by serial entrepreneur Richard Steer, Steer Automotive has expanded through 18 acquisitions, establishing a network of over 100 collision repair centers. Steer, and the current management team will continue to lead the business and are reinvesting alongside Oakley. As part of the transaction, Oakley will acquire the shares held by Keyhaven Capital Partners and Chiltern Capital.
Chiltern Capital and Keyhaven Capital originally invested in the business in 2021. During their
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