K3 Law supports Diamond Spraying on joining Precision Repair Group

K3 Law has provided legal support to Diamond Spraying as the automotive body shop joins the newly formed Precision Repair Group (PRG), creating a UK-wide vehicle repair service offering.

The transaction sees Diamond Spraying join five other leading independent businesses within PRG, combining local expertise with long-term investment and group-level support to provide a platform for future growth.

Supporting Diamond Spraying through the transaction

Founded in 2007 by Managing Director Paul Hakin, Diamond Spraying is an automotive body shop based in Wellingborough, Northamptonshire.

The business specialises in the spraying and repair of business vehicle fleets and commercial vans and cars, and has developed an impressive client base which includes several blue-chip companies.

Paul instructed KBS Corporate to seek new investment that could support the next stage of Diamond Spraying’s development.

K3 Law provided legal support on the transaction, working alongside Diamond Spraying and KBS Corporate to help bring the deal to a successful conclusion.

The transaction was advised by Luke Rae, Deal Executive at KBS Corporate.

Joining Precision Repair Group

Diamond Spraying has become the first commercial body shop within Precision Repair Group, joining five other independent businesses to form a nationwide vehicle repair service offering.

PRG’s model combines the expertise of its individual businesses with long-term investment and support at Group level. Businesses within the Group will continue to operate under their existing brands and leadership.

Commenting on the transaction, Paul Hakin said:

“Becoming the first commercial body shop within PRG is very exciting. I’m extremely proud to lead the Group’s first investment in the commercial fleet repair space.

“I joined the Group because I believe I can play a part in building an offering that is genuinely different in the commercial market, with a strong focus on vehicle off-road time (VOR), price and service.

“We will be able to lean on all parts of the Group to support our customers nationwide, which I see as a huge benefit.

“The team that Victoria Turner (PRG’s Group CEO) has put together is exceptional and, more importantly, we are all one team with the same focus – providing something different for the market to benefit from.”

Building a nationwide offering

Victoria Turner, Group CEO of Precision Repair Group, welcomed Paul and the Diamond Spraying team to the Group.

She said:

“I welcome Paul and the Diamond Spraying team to the Group. We believe there are clear opportunities to work in partnership with customers in this space and create a service focused on minimising vehicle off-road time.”

Precision Repair Group is a portfolio company of private equity firm Sun European Partners, LLP, the European adviser to US-based Sun Capital Partners, Inc.

The transaction provides Diamond Spraying with the opportunity to draw on expertise and support from across the wider Group while continuing to operate under its established brand and leadership.

A successful outcome for Diamond Spraying

Following completion, KBS Corporate’s Luke Rae thanked K3 Law for its work in helping to bring the transaction to a successful conclusion.

Luke said:

“It’s been a pleasure working with Paul and Diamond Spraying on a true exit strategy with the aim of finding the perfect home that will continue to drive the company’s growth and innovation within the industry.

“With Precision Repair Group, we believe that home has been found. I wish all parties continued success and the very best for the future.”

The transaction marks an exciting new chapter for Diamond Spraying as it becomes part of a wider nationwide group while continuing to build on the expertise and reputation it has developed since its formation.