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Disposal of the Core Business of Autoclenz Holdings plc

22nd November 2012


Zeus Capital has advised Autoclenz Holdings plc, the car valeting provider, on the
sale of its core business to the existing management and external equity investors for a total consideration of £4 million.

The Autoclenz Business is one of the leading outsourced car valeting and vehicle preparation services providers in the UK. It is also, under the name REACT, a specialist provider of rapid response deep cleaning and emergency decontamination services.

Following the Disposal the Company will be renamed AimShell plc and will be an Investment Company with approximately £4million of cash to deploy under its investing policy.

It is proposed that AimShell Plc will have a generalist investing policy with the ability to invest in all sectors, however the focus will be on businesses exhibiting the factors and management necessary for significant growth over the short to medium term. It may be considered appropriate to take an equity interest in any proposed business, which may range from a majority position to 100 per cent. ownership. Any investment is likely to be made into an unquoted company and structured as
a direct acquisition.

James Leek, Non-executive Chairman, Autoclenz, commented: “We are pleased that the business has been acquired by the existing management who we are confident will continue to deliver the highest standard of service to all our customers which has been the hallmark of Autoclenz for many years . Together with our advisors we shall now seek to acquire within this well funded clean AIM listed shell company a high growth business with a view to further increasing shareholder value.”

The deal team comprised Nick Cowles, Andrew Jones and Jamie Peel.

Nick Cowles, Director at Zeus Capital, commented;
“We have already started looking for investments for AimShell plc and looking forward to finding the right transaction for the investment company in the near future.”