M&A Activity • Nov 10, 2009
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Corporate | 10 November 2009 08:00
ARQUES sells British driving school BSM to management
ARQUES Industries AG / Disposal
10.11.2009
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
ARQUES sells British driving school BSM to management
* Successful restructuring within 10 months
* Sales proceeds to the value of 11 million EUR
Munich, November 10, 2009. ARQUES Industries AG has sold the British
driving school, British School of Motoring (BSM), within the context of a
management buy out. The buyer is a consortium under the leadership of the
previous management of the driving school chain. ARQUES acquired BSM in
February 2009 for a symbolic price. In total ARQUES booked net proceeds to
the value of approximately 11 million EUR from its involvement in BSM in
the months to follow, which is to be utilised for the scheduled repayment
of financial liabilities.
The British driving school chain BSM generated revenues of approximately 34
million GBP in 2008. After the separation from the corporate network of the
former owner, the structure costs and overhead costs were reduced by more
than 15% under the ARQUES management. Simultaneously the development of
medium-size structures was promoted and the British School of Motoring's
market presence completely revised. The largest change took place by
entering into a long-term co-operation with Fiat to supply Fiat models for
the driving school. Hereby BSM has significantly advanced its
modernization. The efficient and focused implementation of these measures
has enabled an early, profitable sale.
'As the sale of the driving school chain BSM proves, it pays off for ARQUES
to concentrate on its original business model: A well-defined risk analysis
and the required restructuring steps at the time of the acquisition as well
as rapid restructuring enable a quick and profitable sale', said Hans
Gisbert Ulmke, chairman of the ARQUES Industries AG executive board.
About ARQUES
ARQUES Industries AG, Munich, is a business partner of conglomerates
regarding company spin-offs and a turnaround specialist who focuses on the
acquisition and the active restructuring of companies in transitional
situations, in order to develop these, with its own team and own resources,
to competitive enterprises with a positive yield. ARQUES revitalises its
subsidiaries' potential for creating value for the benefit of all its
stakeholders, taking on the relevant social responsibility. The shares of
ARQUES Industries AG are traded in the regulated market (Prime Standard) of
the Frankfurt Stock Exchange under the symbol 'AQU' (ISIN: DE0005156004)
and are listed in the SDAX.
Contact:
ARQUES Industries AG
Corporate Communication
Christian Schneider
Email: [email protected]
Tel: 089/ 25 55 00 - 0
For information about BSM please contact:
Henry's House on +44 (0)207 291 3000
Krissy Knights
Email: [email protected]
Sam Oxley
Email: [email protected]
10.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: ARQUES Industries AG
Arnulf Office Park - Arnulfstraße 37-39
80636 München
Deutschland
Phone: +49 89/255500-0
Fax: +49 89/255500-200
E-mail: [email protected]
Internet: www.arques.de
ISIN: DE0005156004
WKN: 515600
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
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