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Buzzacott advises The AA on their acquisition of Keycare

Introduction

Corporate Finance deal announcement: Buzzacott assisted The AA on their acquisition of Keycare in a strategic acquisition to expand its product base to members and customers

Seller: Keycare Limited

Buyer: The AA

Type of deal: M&A Advisory and Transaction Services

Sector: Insurance

Value: Undisclosed

Date: February 2024

Overview of deal

Buzzacott advised The AA on their acquisition, as part of their strategy to diversify their portfolio of products and continue offering world class customer service.

Keycare, who operate in the key insurance market, have worked closely with The AA through its insurance division for many years. The deal was a great outcome stemming from a long-standing relationship, to serve mutual customers more closely.

Who are the firms involved

The AA is the UK’s leading provider of roadside assistance with approximately 2,700 patrols attending an average of 9,000 breakdowns daily. Other areas of the well-known business include AA Driving Schools, AA Smart Care, AA Cars and the Insurance division.

Keycare have been operating in the key insurance market for over 45 years and are the market leader in providing recovery, assistance and insurance services for keys and locks. They serve over 2 million customers across the UK & Ireland and work as a strategic partner with some major blue chip brands including Tesco, Hastings, Aviva, RSA Ireland and BGL Insurance.

What did the deal involve

It involved guiding The AA through their first acquisition, advising through various stages in the transaction including strategic presentations at the outset of the deal, due diligence work and ultimately crucial project management to help both parties navigate various challenges to the deal timeline.

It was a real pleasure to work with many of The AA operations, strategy, compliance, finance and legal team members during this transaction process, providing them with experienced guidance on expectations for aspects of the deal as well as post-deal completion and integration matters.

We are proud to have worked collaboratively across the Buzzacott Corporate Finance team including key advisors from both the M&A and Transaction Services teams, to provide a breadth of expertise to our client.

Meera Shah, Head of M&A and, George Thresh, Transaction Services Director

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