Prime Advantage Capital Partners confirms sale of Co-wheels Car Club
Prime Advantage Capital Partners is delighted to confirm the sale of Co-wheels Car Club, the UK’s largest independent car sharing business. It becomes part of the European Oply car share network and a new joint venture between Examotive a leading European mobility provider and SAIC Motor, owners of the iconic British motoring brand MG.
Co-wheels is the largest independent car club operator in the UK with operations in over 60 cities and towns. It was set up 10 years ago to provide sustainable transport solutions. It is also one of the most innovative car share operators and is the only one in the UK to offer Hydrogen fuel cell cars on its fleet.
As well as offering public car clubs, it works across the UK in partnership with local authorities, health providers, housing associations and universities providing pool cars for staff to solve grey fleet problems, save money and reduce environmental impact. It also works closely with housing developers to provide car clubs in new developments.
Paul Balmont and Richard Falconer, Directors of Co-Wheels commented:
“We have worked with Brian for the last 5 years and his knowledge and experience helped us plan and implement the growth of our business from small beginnings to the point where we were ready to take the next step. His professionalism and high-level contacts helped us win major contracts and fleet deals and he played a critical role in the eventual sale of our business. We would certainly not be where we are today without his input and guidance.”
Brian Farrugia, Managing Partner of Prime Advantage Capital Partners commented:
“It was a pleasure working with Paul and Richard and the rest of the Co-Wheels team.They have built a fantastic business and totally deserve their success. I was privileged to be able to contribute“.
For further details or to make an appointment for a no obligation discussion on advisory, funding, growth and exit strategy planning please contact:
Brian Farrugia, Managing Partner, Prime Advantage Capital Partners
Tel: +447768 906323