Activate Group is fuelling growth plans for its accident repair management business under a major investment deal with Elysian Capital.
The private equity firm has acquired a majority share in Activate Group and will provide “substantial” development capital to support the rapid growth of the business.
The existing management team will remain in place to further develop the firm’s owned technology and repair capacity, as well as investing in its people and culture.
Founded in 2015 by Mark Wilcox, Mark Woods and Hannah Wilcox, Activate Group provides end-to-end accident management services to the fleet and insurance industries. It works with some of the UK’s best-known fleets, including Centrica, Ocado and Travis Perkins through its specialist fleet brand, Sopp+Sopp, while its Motor Repair Network business provides accident management services to big-name insurers such as RSA and Marshmallow.
The business also includes a dedicated parts division, Activate Parts, and in 2019 it launched its own chain of repair centres under the name of Activate Accident Repair in areas where the third-party network lacked capacity.
In recent months, Activate Group has welcomed major new customers including Holman and Axa, and now handles over 250,000 claims a year.
Under the new deal, James Cunningham, partner at Elysian Capital, will join the Activate Group board as chairman. Hannah Wilcox will continue to lead the business in her role as CEO. Mark Wilcox, Paul Pancham, Jamie Sopp and Mark Woods will step down from their positions on the company’s board, however, Jamie Sopp and Paul Pancham will continue to provide advisory support.
Hannah Wilcox, CEO, said: “Over the past eight years we’ve taken the business from a start-up with a handful of team members to a UK-wide operation with a 700 strong team.
“Elysian Capital has an outstanding track record of supporting fast-growing businesses like ours, and I’m confident their investment and support will allow us to take Activate Group to the next level and move faster in delivering our key strategic priorities.”
Plans for 2024 include the launch of four more purpose-built repair centres to complement the capacity within Activate’s partner network. The first of these will open in Hampton, South West London, in March.
Activate Group will also continue to invest in technology to drive service efficiency and transparency – this includes systems to expand the Activate Parts business, helping to improve efficiencies and manage cost control for customers.
It’s also signed up with the Living Wage Foundation and from April 2024 is increasing staff pay to at least £12 per hour.
Newly appointed chairman James Cunningham said: “The management team has a clear vision and strategy for the business’ future growth, and I’m very much looking forward to working with Hannah and the rest of the team to realise the business’ full potential.
“From the day we started discussions with Activate Group, it’s been clear that creating a positive culture is a key priority. It’s particularly pleasing to see the business cement its position as an employer of choice in the industry by making a commitment to the Living Wage Foundation.”
