Addleshaw Goddard has advised Cooper Solutions on its successful acquisition by PIB Group Ltd. Cooper Solutions, which provides a range of digital and online services for the retail automotive industry, will be the fifth acquisition this year by PIB. The owners and employees plan to remain with the business.
The Leeds-based AG Corporate team was led by led by Pete Wood, James Whittam and Charlotte Martin.
Cooper Solutions was founded in 2001 by owners Barry and Peter Cooper. The company provides a web-based fleet management system that tracks all vehicle movements within a dealership, and also incorporates the provision of daily-rate insurance. Since 2004 this daily rate insurance product has been provided by PIB-owned insurers Cooke & Mason. Currently this daily rate insurance product insures around 12,000 retailer cars per day.
Cooper Solutions also includes performance forecasting and financial management, used car stock management, electronic appraisal, and online trade vehicle auction.
Pete Wood said: "We are delighted to be a part of this success story. It is great news that PIB is investing in Cooper Solutions and Addleshaw Goddard is pleased to have been able to offer our expertise and knowledge in helping the business transition to the next stage of its development."