The British School of Motoring (BSM) entered administration today (Monday, January 31) before it was confirmed a buyer had been found.
The business and various assets have been sold to Acromas – a private equity company - via Automobile Association (AA) Developments Limited.
BSM’s operations are to continue without interruption on a business as usual basis, according to the administrator Pricewaterhouse Coopers (PwC).
It has 2,100 franchised driving instructors across the UK, serving approximately 30,000 learner drivers and also provides training for new instructors.
It employs 135 staff at its head office in Bristol, and a further 145 located in 71 network centres located across the UK providing support to the franchised instructors.
Following the sale, all current driver franchise agreements and employees will transfer over to the new company.
Matthew Hammond, joint administrator and partner at PwC, said: “January has been an intensive period of activity as we worked with BSM to explore the options available.
“The sale preserves the BSM brand and its 100 year history, and secures the immediate transfer of employees, driver franchisees, trainees and student drivers to a large, stable and successful company.”