AA purchases BSM in pre-pack deal
British School of Motoring sold by PwC administrators through a pre-pack
MOTORING SCHOOL BSM has been sold by PwC administrators in a pre-pack administration.
PwC’s Matthew Hammond and Rob Lewis were appointed as joint administrators, who immediately sold BSM onto Acromas, the private equity owner of the AA.
BSM is currently in its 100th year of trading, with approximately 2,100 franchised driving instructors across the UK, approximately 30,000 learner drivers, and it also provides training for new instructors.
The school employs 135 employees at the 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.
“We are very pleased to have been able to complete a sale of the BSM business. January has been an intensive period of activity as we worked with BSM to explore the options available,” said Hammond.