MVRA provide specialist support to organisations involved in the repair of motor vehicles, including repairers, insurers, government departments and governmental agencies. It will become part of Capita's Insurance Services division, which provides insurance services to the insurance industry.
Mike Monaghan, CEO of MVRA, said: "In order for MVRA to deliver all of our proposed membership benefit enhancements we needed to find a partner who shares our service led philosophy and backed our belief in the UK motor trade market.
"Today’s deal has fundamentally enhanced our capacity to service our key markets. Our plans are ambitious, but we believe as part of Capita we now have the long term security and capability to make a real difference to businesses working within this challenging market."
Monaghan said MVRA staff would now have the opportunity to grow their skills and careers over the long term as part of the Capita group.
Richard Holland, managing director, Capita Insurance Services, said: "Growing Capita’s presence in the UK motor trade motor support and services sector is a key objective and we believe that MVRA provides unrivalled experience-based knowledge and a high quality, market-leading proposition.”
Holland believes the MVRA will be able to go forward this year with support from Capita’s resources.
"This investment will enable us to create a business that can support the motor insurance industry as it deals with the challenges presented by increased regulations and new materials, in an increasingly competitive market," added Holland.
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