MD's acquire BSM business
British School of Motoring joint Managing Directors take ownership of UK’s leading driving school
The British School of Motoring (BSM), the UK’s leading driving school, has been bought by joint Managing Directors Abu-Haris Shafi and Nikolai Kesting. The business was sold for £10million to the joint Managing Directors.
The driving school was previously owned by Arques Industries who took over the business in February 2009. Abu-Haris Shafi and Nikolai Kesting joined the business as joint Managing Directors at this time and are responsible for a number of landmark deals for the company over the last nine months.
BSM recently announced a partnership with Fiat, which has seen their car fleet change to the iconic Fiat 500 and also secured a four year financial partnership with Barclays Commercial Bank.
BSM, with headquarters in Bristol, has 94 centres and over 3,000 driving instructors across the UK.
Shafi and Kesting have ambitious plans for BSM as the business moves into its centenary year. There is an expansion programme in place which includes the opening of new centres and a drive to recruit another 3,000 driving instructors to the business in the next two years.
Abu-Haris Shafi commented: “Nikolai and I are honoured to take over the ownership of this iconic company. We are excited to be taking this strong British brand forward and continuing its growth by offering the best expertise for learners and a secure financial future for our staff and instructors.”
Felix Frohn-Bernau, Member of the Board of Arques added, “This is the ideal time for us to sell and for Abu and Nikolai to take full ownership of the British School of Motoring and continue to take the company to the next level. They have been successful in growing the business over the last nine months and securing important partnerships to enable its future success.”
About BSM
BSM is the UK’s leading driving school, with around 3,000 driving instructors teaching more than 130,000 learners to drive each year. BSM is one of the most recognised British brands with nearly 100 years of history and a market share of approximately 10 per cent. BSM is also one of the largest providers of instructor training and carries out driver training for companies as well as the public and governmental sectors. BSM has been teaching people to drive since 1910 and is fully committed to helping people become better safer drivers, not just training them to pass their test. The company taught HM the Queen to drive and helped design and implement the modern driving test.
For information about BSM please contact:
Henry’s House on 0207 291 3000
Krissy Knights at krissy@henryshouse.com or Sam Oxley at sam@henryshouse.com
About Arques
ARQUES Industries AG.ARQUES Industries AG, Munich, (www.arques.de), is a leading partner for major corporations in corporate spin-offs and a turnaround specialist concentrating on the acquisition and active restructuring of companies in transitional situations.