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As Good As New

Corporate Finance advisers Watersheds are pleased to announce the purchase of the UK’s leading automotive smart repair business, Car Medic International Limited, by David Cartwright.  Minor exterior vehicle damage such as dents, scuffs and scratches to panels, bumpers, wheel arches and mirrors is inevitable.  By repairing just the damaged area rather than the whole panel or part Car Medic provides a quick and cost effective solution, without compromising on quality.  Typically smart repairs are up to 50% cheaper than those of traditional body shops.  The Car Medic service not only saves money it also saves time with technicians travelling to the vehicle wherever it is parked.

David Cartwright is an experienced Managing Director who has spent his whole career in the international automotive industry working for companies such as Lucas, TRW Automotive and Thyssen Krupp.  He has an MBA from Aston Business School.  David brings new investment to the business allowing significant growth.  As a result not only will all the jobs be secure but the Company will shortly be recruiting.

The market for smart repairs has been the focus of David’s attention for some time.  The purchase of Car Medic International Limited has taken three years to complete.  A series of technical issues arose that had to be addressed and the commercial market changed requiring the transaction to be restructured and refinanced. 

David Cartwright said:

“My perseverance has paid off, so too has that of Watersheds.  They told me at the beginning that no fee would be payable until completion.  I thought that would be fine for a few months but as the months turned into years I expected them to renegotiate.  They never did and I am most grateful.  Without that support and their dogged determination I do not think this deal would have been done.”

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