Motorclean Acquired by Matrix

Motorclean, a UK provider of cleaning and valeting to the motor industry, has been acquired by Matrix Private Equity Partners from LDC.

Matrix has invested £6m as a combined debt and equity package along with a commitment from Lloyds Commercial Finance. The deal is a secondary management buy-out of the business as LDC backed the original MBO of Motorclean in 2005.
Serial automotive entrepreneur Kevin Finn participated in the transaction as an investing Chairman.

The company intends to use the proceeds to expand its customer base and provide additional value added services to dealers. Matrix will also explore possible acquisition opportunities.

Led by CEO David Warren, Motorclean operates at around 300 sites in the UK and has annual revenues of £22m.
Customers include Pendragon, Inchcape, BCA Auction, BMW UK, Marshall, CAT and Sytner.



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