Nationwide Accident Repair Services has acquired DWS Automotive Repair Solutions.
Established in 1982 DWS operates a chain of 17 repair centres providing accident repair and accident management services to motor insurers, fleet operators, dealer groups and motor manufacturers.
The acquisition is in line with Nationwide’s recent moves to expand the range and scope of its offering across the UK. In particular, DWS will bring additional capacity across a part of the country where Nationwide is currently underrepresented, around the M25.
Michael Wilmshurst (pictured), Nationwide chief executive, said: “Nationwide’s model is evolving and our acquisition of DWS is part of our strategy to provide an enhanced service offering to our customers.
“We’re setting new goals for ourselves as we adapt to a changing marketplace and I’m delighted that we’re now completing almost two thirds of our repairs in seven days or less and almost a third in three days or less.
“We are working hard to deliver an optimal service combining quality, speed and value to our customers.
“The acquisition of DWS is another step forward as we set to achieve the goal of being the repair solution of choice, serving our strategic customers in an increasingly integrated and sophisticated way, to mutual benefit.”
Nationwide’s initiative to balance capacity with demand has resulted in 57% of the cars repaired in the first quarter of 2016 being successfully completed in seven days or less and 32% in three days or less, in line with customers’ increasing expectations.
Funding for the deal was provided by Investec and Barclays Debt Finance.