MCR sells stricken Red to new owners
Kelso Place picks up driving instructor school from administrators
Kelso given green light to purchase Red
Administrators from
MCR have
successfully sold Red Driving School to new owners.
LVG, the parent company of driving instructor business Red Driving School, has
been bought by Kelso Place.
The acquisition comes days after LVG went into administration.
Private equity firm Kelso will continue to trade under the Red brand and says
it has no plans to make redundancies. Philip Weston, a partner at Kelso said: ”
We have made a significant cash investment in Red in order to solve its funding
problem and to ensure that it is able to continue operating successfully in the
long term.”
Kelso has also taken over LVG’s other two businesses under the Red brand, Red
Instructor Training and Red Fleet Training, reports the
BBC.
Further reading:
RED
driving instructor school enters administration