ChipsAway management team repurchase franchise group

The ChipsAway management team has just completed its repurchase of the ChipsAway franchise group from Myhome International, which bought the brand in 2007.

ChipsAway Group Chairman Roger Wild said: 'This is a great day for ChipsAway, Autosheen and PCC. Our franchisees, staff and suppliers are delighted that we have the businesses back under our wing again. Each business has fantastic development prospects and the management team, headed by CEO Lloyd Evans, is most excited about the future.'

The timing coincides with a growing public awareness and increasing demand for SMART repairs on damaged car paintwork - a process invented by ChipsAway. Additionally, many large international insurance groups are approaching ChipsAway, seeking to secure access to their services. CEO, Lloyd Evans commented: 'The insurance sector is just waking up to the benefits of providing both ChipsAway repairs to their clients, and reducing their repair costs. We see this market growing massively in the next five years!'

Established in 1994, the ChipsAway group, which includes valeting businesses Autosheen and Professional Car Cleaning, has over 400 UK franchisees and operations in numerous countries including Russia, South Africa and most of Europe. Highly experienced entrepreneurs Nigel Wray and Stephen Hemsley partnered the ChipsAway management team in the acquisition.

Wild added: 'I am delighted that we are going into this next stage of our business growth with such influential follow investors as Nigel and Stephen. Their involvement can only strengthen one of the most experienced teams in European franchising. That we are able to make this announcement at the National Franchise Exhibition is perfect timing. All of our businesses are represented at the show - we greatly look forward to meeting prospective franchisees to talk further about the exciting future for our group.'