UK smart repair network Revive has completed its largest resale to date, with its Luton franchise changing hands for a record sum.
Adam Smith purchased the franchise in 2009, growing it from just one man and a van to a business running a fleet of 11 vans and employing 13 people.
The new owner is quantity surveyor Viresh Dattani. Following Revive’s vetting process, he has completed his training at the Revive Academy in Rugby and will take over the helm at Revive Luton immediately, working alongside Smith during the handover period.
Revive managing director Mark Llewellyn went to Luton to congratulate Adam and Viresh after the sale had been completed.
Commenting on the sale, Revive franchise director Cathryn Hayes said: “We are delighted to welcome Viresh to the Revive family following our biggest re-sale to date.
“He has bought a thriving business which has already delivered a profitable exit strategy for Adam and we look forward to helping Viresh take this exciting company to the next level.”
Dattani added: “I am delighted to join the Revive team and excited about the opportunity to build the business further.
“I’ve got to know Adam well during the negotiations, he’s built a great team at Revive Luton and I’m looking forward to getting to know the staff and customers over the coming months.”
Smith continued: “I’m very proud of what we’ve achieved at Revive Luton, after I started the franchise working from a single van.
“After 10 years of hard work building it up, I’m looking forward to spending time travelling with my partner and our young daughter and the sale of the business has given us the freedom to take this step.”
Revive carries out work for car dealerships, fleet and lease companies, insurance companies and the general public.