M&A Coachworks is a supercar, manufacturer-approved repair specialist for iconic luxury brands such as Porsche, Ferrari, Aston Martin, Bentley, Lamborghini, McLaren and Maserati. Established in 1971, the company has four bodyshop sites in London, Norwich, Hertfordshire and Berkshire. It offers vehicle repairs, restorations and transport collection for client’s prestige vehicles. 

The strategic acquisition of what was the UK’s largest manufacturer recommended repairer of super cars bolsters Steer’s capabilities in the luxury vehicle repair sector through expanding its repair footprint and increasing its capacity.

No stranger to the sector, this deal follows an earlier transaction where the Lawrence Stephens team advised the shareholders of the Artis Group, a vehicle repair business with 11 outlets located around the M25 on their sale to The Steer Group.

M&A Coachworks is also a family-owned business, established by Brothers Michael Dionisiou and Adonis Kyriacou in 1971. A founder-led business itself, Lawrence Stephens is very familiar with the challenges this brings and advises many privately owned businesses on a wide range of matters throughout the business lifecycle.

The Lawrence Stephens team was led by Managing Director  Steven Bernstein, with assistance on the corporate side from Associates Harshita Samani and Carla Bernstein  and Trainee solicitor Heather Ramsey and on the property side from Director Nick Marshall.

Lawrence Stephens’ Corporate and Commercial team recently acted for Activate Group Limited in its acquisition by Elysian Capital, in a deal which was completed on 22 January 2024.

Handling over 250,000 claims a year, Activate Group provides accident management services to insurance groups and corporate fleet operators. Their acquisition by private equity firm Elysian Capital will provide investment to allow the group to continue to grow and develop its UK operations.

The team was led by Managing Director Steven Bernstein, with assistance from Senior Associate Angela McCarthy and solicitors Lucy Cadley, Carla Bernstein, and Avni Patel.

Steven commented: “Growing from a small start-up to a UK-wide business, this acquisition represents an exciting new chapter for Activate, as the group continues to build upon its existing services while retaining its core expertise and identity.

“It was a pleasure to work alongside Hannah and the team from Activate to secure a result which pleased all parties – and represents exciting new growth for the Activate business.”

Hannah Wilcox, CEO of Activate Group, commented: “Steven and the team at Lawrence Stephens handled the deal smoothly and professionally, and provided crucial legal and commercial advice. They achieved excellent results on our behalf, and we are delighted to begin this new relationship with Elysian, which will allow us to continue to expand and advance our operations under a larger umbrella.”

James Lyons, Director in the Corporate and Commercial team, discusses the wider market implications of travel giant Tui’s plan to delist from the London Stock Exchange, in Law360.

James’ comments were published in Law360, 05 January 2024, and can be found here.

“Whilst some may perceive this as a blow to the appeal of a UK listing, this decision should be viewed within the particular context of TUI, a German company borne out of a legacy merger.  It already has listings in Frankfurt and Hanover, and more than 75 per cent of the trading in its shares occurs in Germany, so this is a decision which appears to be being made for reasons very specific to TUI rather than necessarily reflective of the London market itself.  

“But it is indicative of the global competitive listing environment and another example to demonstrate why the FCA cannot rest on its laurels and should continue to push forward with changes to retain the appeal of the London market for international businesses.”

Lawrence Stephens acted on behalf of the shareholders of the Heath Crawford and Foster Group in a complex transaction to complete the sale of Heath Crawford & Foster Holdings Limited including its subsidiaries, Heath Crawford & Foster,  ABA Insurance and Merenda & Co Limited  to The Clear Group, the award winning and leading insurance group.

Heath Crawford & Foster was founded in 1982 by Paul Weinberg, who will continue with his team to drive forward its growth strategy under The Clear Group umbrella. The acquisition is a continuation of The Clear Group’s long-term consolidation strategy to build a balanced and sustainable business.

The deal was led by Lawrence Stephen’s Director and Head of Corporate and Commercial, Jeff Rubenstein, with support from Associates, Charlotte Hamilton and Aashay Knights, Solicitors, Isobel Moran, Lucy Cadley and Carla Bernstein, and with property aspects being handled by Director, Nick Marshall. As a full service law firm this deal highlighted the effort across the Corporate and Property teams at Lawrence Stephens that enabled this complex transaction to come to an efficient completion.

Jeff Rubenstein comments on the deal: “Having met Paul Weinberg many years ago, I was delighted that we were chosen to represent Paul and his team on a deal which I am convinced will strengthen the trajectory of The Clear Group’s consolidation plans and broader offerings. This transaction strengthens our position as lawyers who have an in-depth knowledge and expertise acting for owner managers in the financial services and insurance broker market.

We were delighted by the collaborative nature of all involved both from The Clear Group and its external legal  advisors in showing a  willingness to get the deal done.”

Paul Weinberg comments on the deal: “Jeff and the team at Lawrence Stephens provided clear and sensible legal and commercial advice throughout. When things became more complex, they were able to address each aspect of the deal. They displayed patience, creativity and resilience whilst at the same time kept up the momentum to get the deal across the line. We were delighted to have them by our side.”

Lawrence Stephens’ Corporate team recently advised ALS Dental on the acquisition of Aesthetic World, Oakview Restorations and APlus Dental Lab, in deals which were completed throughout March 2023.

Aesthetic World, Oakview Restorations and APlus Dental are specialist dental laboratories, equipped with the latest in dental technology. These acquisitions have bolstered ALS’ growing presence in the industry and widened their portfolio of labs across the UK with A Plus being based in Dundee, Oakview in High Wycombe and Aesthetic World in Bolton.

For these three deals, the teams were led by Senior Director Steven Bernstein and Senior Associate Katherine Zangana, with assistance from solicitors Lucy Cadley Isobel Moran and Carla Bernstein.

Katherine Zangana commented: “The team and I enjoyed working with ALS on these acquisitions, and we managed to swiftly and efficiently negotiate these deals which pleased all parties involved.”

ALS Dental commented: “We were incredibly impressed by the work of Katherine, Steven and the team at Lawrence Stephens, who worked hard to get these acquisitions across the line. Their tenacity, speed and industry knowledge were invaluable in this process and has allowed us at ALS to further strengthen our position as industry leaders in dental technology.”