Management Buy Out of leading Professional Valeting Services Company from Specialist Global Credit Management firm



Direct Valeting Limited, one of the UK’s leading professional valeting service providers, has changed ownership following a Management Buy Out, advised by Yorkshire based Corporate Finance specialist, Castle Square Corporate Finance.

The Company has been acquired from specialist global credit management firm, Alcentra, who have over $400 billion assets under management and are part of the global financial investment group, BNY Mellon.

With Headquarters in Newcastle Under Lyme, Direct Valeting provide professional valeting services to motor dealerships located throughout the UK and boast a prestigious client base of over 450 customers, including AM100 top motor dealership Groups such as Lookers, Pendragon, Sytner, Trust Ford, Perry’s, Renault Retail Group, PSA Group, Pentagon and Listers.

Since forming in the mid-1990’s, Direct Valeting has grown to become one of the UK’s largest professional valeting service providers to the retail motor dealership sector, offering services of new and used vehicle preparation, display and showroom cleaning and vehicle imagery.

The Management Buy Out was led by Managing Director, Jason Carpenter, Operations Director, Steve Brown and Finance Director, Lesley Murphy.

The Management Team, all long standing employees of Direct Valeting, have been responsible for delivering significant turnover and profitability in recent years, whilst also successfully guiding the company through a difficult period during the COVID-19 pandemic.

The Founder and former owner of Pentagon Motor Group, Trevor Reeves, will be joined the Board of Directors, from completion.

The business is on track to deliver annual sales in excess of £35 million in the year ending 31 December 2021 and growing, with new business gains due to launch during the remainder of the financial year.



Jason Carpenter said: “I am very pleased that we have completed the Management Buyout and I am fortunate that we have a great team with everybody at Direct Valeting that works extremely hard, especially in the difficult times that we have had and within a difficult industry.  What we have achieved with our fantastic results and the completion of the buyout, I am very proud and honoured to be taking the company forward.”

Sheffield based dealmakers; Castle Square Corporate Finance provided corporate finance advice to the management team, leading negotiations on transaction value as well as deal structure, and running a structured fundraising process.

Castle Square is a mid-market specialist corporate finance boutique, with a proven track record for working with management teams to agree Management Buy-Out terms with business owners and successfully delivering the required debt and or equity funding on behalf of the management team.

Director, Patrick Lynch led on transaction, advising the Management Team and helping to ensure the deal reached a successful completion.

Patrick Lynch added, “After our first meeting with the Management Team almost 2 years ago, it is fantastic to have advised the Direct Valeting team for a second time, having first advised on growth capital fundraising almost 18 months ago. It has been a long-term ambition of Jason to be a controlling shareholder in the Company he joined as an employee almost 30 years ago and it is a privilege to have helped make this happen. Jason and the Management Team operate a robust business model with a reliable service offering to a blue-chip customer base and therefore I am sure the Direct Valeting brand will continue to go from strength to strength under the Management Team’s ownership”.

Led by Partner, Alistair Scott Somers and supported by Senior Solicitor Laura Clark, the Progeny’s corporate law team based in Leeds, provided expert legal advice and support to the Management Team on the Transaction.

The Progeny Group is an independent professional services firm providing financial planning, investment management, tax services, and both private and corporate legal counsel to owner-managers of businesses across the UK and Internationally.


Laura Clark added, “Having worked alongside Jason for many years now and through many stages of Direct Valeting’s life cycle and major changes of ownership, it is great to now see ownership back in the hands of Management.”

Specialist European based funder Caple, backed by large merchant bank BNP Paribas, provided long term unsecured acquisition finance on the transaction.

Sean Brophy, Caple UK Country Manager said, “Jason and the team have built a strong, resilient business with clear whitespace for growth. Supporting the MBO means that the people tasked with delivering this growth will directly benefit from the value they create. We look forward to working with Jason and seeing the Direct Valeting brand going from strength to strength.”

In addition working capital facilities were provided by the incumbent bank, Natwest, led by Relationship Director Aaron Carter and Client Director Umesh Nischal.

Other advisors on the transaction were Muckle LLP Newcastle Office who provided legal advice to the Sellers and RSM (Stoke on Trent and Manchester offices) who provided specialist tax advice to Newco and the Management Team.




NOTES to the Editor


Sheffield based Castle Square Corporate Finance offer pro-active corporate finance advice to clients throughout the UK, tailoring our service to our clients and their markets, giving us an enviable record of successfully completing deals, including acquisitions and mergers, Management Buy Outs

and Buy Ins, finance raising and disposals.


Contact Details:


Kerry Raistrick

Castle Square Corporate Finance

Tel: 0114 213 8353

Mob: 07810 310 304

Email: [email protected]

twitter:               @castlesquarecf





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