International law firm Pinsent Masons has advised long-standing client, Halfords, the car accessories retailer, on the acquisition of Nationwide Autocentres, one of the UK's best-known independent car servicing and repair operator, with 224 outlets across the country, for £73.2 million (approx. 80.8 millon).
Halfords is building on its retail position in car maintenance to expand into the UK's £9 billion car servicing and repair market.
Following the acquisition, Nationwide is set to be re-branded as Halfords Autocentres and intends to roll-out a further 200 centers, creating over 1,000 new jobs.
The Pinsent Masons team was led by corporate partner, Paul Harkin, assisted by Ed Stead, Zanna Patchett, Alex Burton and Jason Fisher (corporate), John Edwards (property), Eluned Watson (environmental), Matt McDonald (employment) and Liz Morgan and Matt Davies (tax).
Mr Harkin said: "We are delighted to have advised Halfords on the acquisition of Nationwide Autocentres. The transaction meets the company's acquisition strategy and will further extend Halfords' presence in the car maintenance market."
Source: Brown Lloyd James Financial