Restructuring and insolvency specialists at Shoosmiths have helped save 160 jobs at a national car insurance services provider.
The national law firm worked with the managment of The Car Crash Line Group to secure an MBO.
Birmingham-based partner and national head of restructuring and insolvency James Keates said: “We advised a new company – CCL Vehicle Rentals Ltd – which was set up for the purpose of the transaction, which in turn was backed by a consortium of investors.”
The Shoosmiths team worked alongside accounting and business advice specialist RSM Tenon to put the deal together in 10 days.
Mr Keates added: “There was a well established business and 160 jobs at stake, so we had to work quickly to ensure a successful deal.
“Two of our restructuring and insolvency specialists – associate Charles Williams and solicitor Aaron Harlow – burned the midnight oil, putting in some lengthy shifts.
“And it’s been well worth it, because with this new investment there’s fresh impetus behind Car Crash Line.”