Diamond Spraying acquired by Precision Repair Group

KBS client Paul Hakin, Diamond Spraying’s Managing Director, has expressed his pride in being granted the opportunity to be part of a “very exciting” new collision repair group.

Paul founded Diamond Spraying in 2007 as an automotive body shop based in Wellingborough, Northamptonshire, specialising in the spraying and repair of business vehicle fleets and commercial vans and cars.

He instructed KBS Corporate to seek new investment that could take Diamond Spraying to the next level, building on an impressive client base which includes several blue-chip companies – reflecting one of several routes business owners may consider when exploring how to sell a business.

In a transaction advised by Luke Rae, KBS Corporate Deal Executive, Diamond Spraying has joined the newly formed Precision Repair Group (PRG), alongside five other leading independent businesses, to create a UK-wide vehicle repair service offering.

PRG combines local expertise with long-term investment and group-level support designed to enable future growth, and its businesses will continue to operate under their own brands and leadership.

“Becoming the first commercial body shop within PRG is very exciting. I’m extremely proud to lead the Group’s first investment in the commercial fleet repair space,” said Paul Hakin.

“I joined the Group because I believe I can play a part in building an offering that is genuinely different in the commercial market, with a strong focus on vehicle off-road time (VOR), price and service.

“We will be able to lean on all parts of the Group to support our customers nationwide, which I see as a huge benefit.

“The team that Victoria Turner (PRG’s Group CEO) has put together is exceptional and, more importantly, we are all one team with the same focus – providing something different for the market to benefit from.”

Victoria Turner commented: “I welcome Paul and the Diamond Spraying team to the Group. We believe there are clear opportunities to work in partnership with customers in this space and create a service focused on minimising vehicle off-road time.”

PRG is a portfolio company of private equity firm Sun European Partners, LLP, the European adviser to US-based Sun Capital Partners, Inc.

KBS Corporate’s Luke Rae expressed thanks to K3 Law, a fellow K3 Capital Group company, for their work in helping to bring the transaction to a successful conclusion.

He added: “It’s been a pleasure working with Paul and Diamond Spraying on a true exit strategy with the aim of finding the perfect home that will continue to drive the company’s growth and innovation within the industry.

“With Precision Repair Group, we believe that home has been found. I wish all parties continued success and the very best for the future.”