Steer Automotive expands with Rye Street takeover

3 September 2024  

Steer Automotive confirmed yesterday it has acquired accident repair business Rye Street Group for an undisclosed sum.

Steer said the move would extend its reach into Hertfordshire and Essex and strengthen its capabilities in parts procurement and estimation.

Rye Street, operating since 1990, manages a network of seven repair centres and holds 23 manufacturer approvals and 24 insurer approvals.

Steer said the “strategic geographical acquisition” underscored the group’s commitment to expanding service capabilities and enhancing customer experience.

Rye Street MDs Bill Duffy and Lee McNaughton will be leaving the business as part of the transition while Nick Ferris and the senior management team will remain to ensure continuity and stability, Steer said.

“This will allow the team to continue delivering the high standards of service that Rye Street is known for, while benefiting from the additional resources and expertise that the group brings.”

Steer CEO Richard Steer (right) said: “This acquisition is a strategic step towards our vision of providing unmatched automotive repair services across the UK.

“We are particularly excited to welcome our new colleagues, whose expertise and dedication have laid a strong foundation that we are eager to build upon.”