We advise Cedar Garage on demerger and sale

We have acted for the shareholders and owners of a Sussex garage and electrical vehicle (EV) repair centre on a demerger and subsequent partnership with a global vehicle parts provider.

Cedar Garage, owned by directors Matthew Copp and Kevin Pearce, is a leading automotive repair, servicing and MOT centre known for its pioneering approach to EV and hybrid vehicle repairs.

The team advised the shareholders of Cedar Garage on the demerger of its EV business, Cedar Electric, and the subsequent partnership with LKQ Europe to launch LKQ Electriq. Cedar Garage will continue to operate its core garage and servicing business.

LKQ Europe, part of LKQ Corporation, is the leading European aftermarket parts distributor. LKQ Electriq will offer independent garages and body shops a repair-first solution for EV batteries and high voltage components.

As electric vehicles continue to gain market share, investments in the specialised equipment and knowledge required to repair EV batteries and electric motors remain prohibitively expensive for many repairers. With LKQ Electriq, independent garages and body shops can rely on a specialist team to provide high quality, cost effective outsourced support.

The team was led by Jihad Karambizi, Corporate Finance M&A Associate Director, and Corporate Finance Director Darren Hurdle.

Jihad said: “The EV market is expanding rapidly, and with it the need for specialist service, repair and aftermarket support. It has been a pleasure working alongside Matt and Kev on this transaction, and we look forward to seeing both Cedar Garage and LKQ Electriq continue to grow.”

Matthew Copp, Director of Cedar Garage and LKQ Electriq said: “The Kreston Reeves team were fantastic in the support and guidance they provided. Over the past decade, we have worked to prove that safe and reliable EV battery and high voltage component repairs can be delivered outside OEM channels. With LKQ Electriq, we bring that capability directly to garages and body shops, enabling them to say ‘yes’ to EV repair work they might otherwise have to decline. Our repair solutions avoid the need for full battery replacement, helping keep EVs on the road more sustainably.”  

DMH Stallard provided legal advice to Cedar Garage.

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