Steer Automotive Group listed in The Sunday Times Hundred, recognising Britain’s fastest-growing private companies
- Keyhaven Capital Partners (“Keyhaven”) and Chiltern Capital (“Chiltern”) invested in Steer Automotive Group (“Steer”) in March 2021 alongside management
- Steer is a UK network of B2B specialist automotive repair centres, providing services to insurers and accident management companies and networks
- Since investment, Keyhaven, Chiltern and management have collectively built Steer to be the UK’s leading B2B accident repair business
We are pleased to announce that Steer Automotive Group has been recognised as one of The Sunday Times Hundred 2023, a list of Britain’s fastest-growing private companies. This fantastic achievement underlines the success of the buy-and-build programme that the management team has followed since acquisition, and has led to Steer becoming a partner of choice for business owners looking to drive their companies to the next stage of growth.
The recognition is a testament to Keyhaven’s fundamental principles of investing in businesses at an inflexion point for change and supporting best-in-class private equity managers, such as Chiltern. We would like to extend our gratitude to the management team and to Steer’s wider employee community for their hard work and dedication as the business continues on its exciting journey, further cementing Steer’s position as the leading B2B accident repair business in the UK.
Founded in 2003, Steer has established relationships with some of the biggest players in the motor industry including Ford, Vauxhall and Honda, operating across 93 strategically placed sites in England and Scotland with over 2,200 employees. The business is a leader in the light vehicle repair sector owing to its high-quality service and strong customer base, in addition to being well-placed for growth in what remains a highly fragmented industry.
Andrew Ware, Partner at Keyhaven, said: “We continue to be impressed with the pace at which Steer grows. This is, of course, driven by the excellence of the employees and of the management team, and we are pleased that they have received recognition on a truly national scale.”
Alex Sheffield, Partner at Chiltern, commented: “We are delighted that Steer has been recognised in The Sunday Times Hundred list, which is testament to the continued performance of Richard and the wider team. Steer is exceptionally well positioned to continue this growth and we remain excited about supporting the business on its journey.”
Richard Steer, Chief Executive Officer of Steer Automotive Group, added: “This prestigious accolade reflects our unwavering commitment to excellence and our remarkable growth trajectory. We extend our deepest gratitude to our insurer partners and vehicle manufacturers for their invaluable support and collaboration, which has played a crucial role in our success. We are immensely proud of our dedicated teams whose hard work, passion, and innovation have propelled us to this significant achievement. This recognition motivates us to continue delivering a Measurably Different customer experience and to set new benchmarks in the industry.”
About Keyhaven Capital Partners
Keyhaven is a specialist secondaries private equity firm dedicated to the European lower mid-market. With a diverse team, a network embedded in local markets and a flexible approach to deal making, Keyhaven works with niche industry leaders to accelerate growth, building robust, sustainable businesses that deliver for their investors, employees and local communities.
Since its foundation in 2003, Keyhaven has invested or advised on in excess of €2 billion and made more than 60 secondaries investments in Europe.
About Chiltern Capital
Chiltern invests up to £40m of equity in growing lower mid-market companies in the UK and Ireland within the Business Services, Industrials and TMT sectors. The firm partners with ambitious management teams and entrepreneurs, providing strategic, financial and operational support, to deliver significant growth and value enhancement.
For all media enquiries, please contact:
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keyhaven@instinctif.com