Isis Equity Partners has backed the management buyout of Impetus Automotive, a Warwick-based business consultancy.
Impetus Automotive supplies sales and aftersales support services to the automotive industry, offering advice to car manufacturers, working dealerships and national sales companies.
The company has grown revenues by 50 per cent since 2010, and employs 250 staff. Working with the likes of VW, Audi, Toyota and Ford, around 15 per cent of the work is delivered outside the UK. The investment will support expansion into new markets and enable the company to offer new services.
The management team is led by David Gorvett, who will now assume the role of chief executive. Majority shareholders prior to the deal included Steve Allen, Phil Cowley and John Vize, who will now step back from the business.
Debt finance was provided by Lloyds TSB Acquisition Finance.