FixMyCar has accomplished a management buyout from parent company Niterra for an undisclosed sum, returning the net repair platform to independent ownership.
The business, which operates as WhoCanFixMyCar.com, was founded 14 years ago and bought by Niterra, formerly NGK Spark Plug, in May 2023.
Following a strategic review of its portfolio, Niterra said a management buyout represented an “appropriate long-term ownership structure” for FixMyCar, enabling it to proceed developing independently and scale inside its market.
The buyout team comprises Amanda Webb, who stays chief executive, Ben Darby, who moves from marketing director to chief operating officer, and Matt Wrankmore, who steps up from head of garage network to chief customer officer.
Webb said: “This management buyout presents a incredible opportunity for FixMyCar and its employees, at a time of great change inside the UK aftermarket.
“FixMyCar has sat at the center of the UK aftermarket ecosystem for over a decade, and we’re excited to steer the corporate into the subsequent phase of its growth story.”
Damien Germès, president and chief executive at Niterra EMEA, said that following a strategic review of its activities within the region and according to its updated group portfolio strategy, “we concluded that an independent ownership structure provides an acceptable framework for FixMyCar’s continued development”.
He added: “We thank the management team for his or her commitment and want them success in the subsequent phase of the corporate’s evolution.”
This Article First Appeared At www.am-online.com
