DriveTech (UK) plc has been acquired by The Automobile Association
Arrowpoint Advisory's Business Services team has announced the sale of DriveTech (UK), the UK's largest provider of fleet risk management and driver education services. The Company, which was founded by entrepreneur Chris Howell in 1990, has been acquired by The Automobile Association.
Chris's founding vision for Crowthorne-based DriveTech was "working together to eliminate road death and serious injuries" which fits closely with the role of the AA and the AA Charitable Trust for Road Safety and the Environment. DriveTech's mission is to "provide the most effective and innovative solutions, using education and technology, to minimise risk for all road users" which is an area where the AA is expanding through fleet training and the AA Driving School.
From its roots in fleet risk management, the Company has successfully diversified into becoming the UK's largest outsourced provider of police diversionary schemes, offering workshop-based and on-road training as a long-term viable alternative to monetary fines and penalty points for traffic offences.
Jim Kirkwood, Managing Director of DriveTech (UK) said: “This is yet another important step in the development of DriveTech. With nearly 20 years' practical experience behind us of educating and training experienced and - more recently - young drivers, we are delighted to join with the AA to create a formidable new business focused on delivering road safety education that makes a difference. By bringing together two exceptional teams of people, we will ensure a bigger, stronger and more influential business moving forward.”
Andrew Strong, Chief Executive Officer, AA Services, added: “The AA is delighted to be linking up with DriveTech, which is one of the leading driver education companies. By combining forces and considerable road safety knowledge, we believe that our efforts will have a great impact on road safety. Together the AA and DriveTech (UK) can become the leading player in promoting practical road safety in the UK.”
Jeremy Furniss, Managing Director at Arrowpoint Advisory, commented: “This is an excellent outcome for both sides. We received a lot of interest in DriveTech from both strategic acquirers and private equity investors but the AA presented a unique opportunity to make two plus two equal five.”