Gowrings’ chairman and chief executive Derek Coulson says: “The accident repair centres have had a difficult two-year period and we have agreed heads of terms to sell the business.
Nationwide can offer the security to the staff, and that is important from our point of view. I expect the sale will be completed by the end of June, at a price below book value.”
Michael Wilmshurt, chief executive of the 61-bodyshop Nationwide chain, says the acquisition is a good opportunity to expand.
“We believe there are still some good opportunities in the body repair business, and further acquisitions are under consideration,” he says. “We are the largest employer in this sector, and I think we offer the best opportunity for people to grow.”