Steer Automotive Group today announced the strategic acquisition of Rye Street Group, the renowned accident repair business with a strong presence across Hertfordshire and Essex. This geographical acquisition will allow Steer to support and collaborate further with its client partners, bolstering its position as a leading automotive repair provider in the UK.
Rye Street Group, operating since 1990, manages a network of seven repair centres and holds 23 manufacturer approvals and 24 insurer approvals, making it a trusted name in the industry.
Steer acquires Rye Street Group
The acquisition not only broadens Steer’s regional reach but also strengthens its operational capabilities. By integrating Rye Street Group’s established processes and expertise, particularly in parts procurement and estimation, Steer will further enhance its efficiency and effectiveness across its network. Steer said in a statement that “this strategic alignment is expected to generate significant synergies and drive continued excellence within the group”.
As Steer acquires Rye Street Group, it was confirmed that both managing directors Bill Duffy and Lee McNaughton will be exiting the business as part of this transition. Nick Ferris and the senior management team will remain with Rye Street, ensuring continuity and stability. 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 Steer brings.
Richard Steer, chief executive of Steer Automotive Group, said:
“We are very pleased to welcome Rye Street Group into the Steer family. 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. Together, we will deliver even greater value to our customers and partners, driving forward our commitment to excellence in everything we do.”
The Steer Automotive Group statement continued: “This acquisition underscores Steer Automotive Group’s ongoing commitment to expanding its service capabilities, enhancing customer experience, and solidifying its reputation for excellence in the automotive repair sector.”
