Fleet News

AIM plan for Nationwide

NATIONWIDE Accident Repairs Services, which works with insurers and fleet operators, has announced plans to list on the Alternative Investment Market (AIM).

The move is expected to value the Oxfordshire-based company at between £50 million and £55 million.

It operates a network of 69 accident repair centres across England, Scotland and Wales and also operates a courtesy car fleet of 3,300 cars.

Chief executive Michael Wilmshurst said: ‘We believe there are significant opportunities to develop the business, both organically and by acquisition. Admission to the AIM represents an important step for us, enhancing our status within our marketplace and providing us with a firm platform on which to build.’

First day dealing in the company’s shares are expected at the end of this month.

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