BDO Facilities Management M&A team has acted as lead advisor to Lloyds Development Capital and the shareholders, including management, of Vehicle & Asset Solutions Limited (“VAS”) on its sale to French private equity-backed company, Auxiga Group. VAS specialises in the provision of outsourced independent vehicle and asset audits, governance and risk control services. These include physical stock and digital audits, specialist audit services, such as manufacturer and fleet, together with vehicle recovery services. It is the largest player in the UK, carrying out 72,000 audits per year by 110 auditors.
Auxiga Group, which is backed by Andera Partners, provides inventory services and asset control/inspection services to banks and financial institutions. Headquartered in France, it operates across three countries, France, Belgium and the Netherlands.
The cross-border sale brings together many strategic benefits for the combined companies, to create and deliver a truly pan-European range of audit services to current and future clients.
In 2018, BDO was lead adviser to the shareholders of Asset Solutions Group on its sale to management in an MBO backed by Lloyds Development Capital, which included the VAS subsidiary. Retail & Asset Solutions – the remaining part of Asset Solutions Group – is unaffected by the latest deal.
"Led by Satvir, the Facilities Sector M&A team provided us with valuable and practical advice in securing a successful outcome for the VAS division, selling to a strategic overseas buyer. We greatly appreciate their dedication to the project, these were particularly complex negotiations. This is the second occasion that I have worked with Satvir’s team and I am sure that we will do so again in the future."
Lois Heywood, CEO, Asset Solutions Group