Buzzacott advises The AA on Keycare acquisition

Buzzacott has recently advised The AA on their acquisition of Keycare as part of their strategy to expand its product base to members and customers.

Keycare, who operate in the key insurance market, have worked closely with The AA through its insurance division for many years. The deal was a great outcome stemming from a long-standing relationship, to serve mutual customers more closely.

The AA is the UK’s leading provider of roadside assistance with approximately 2,700 patrols attending an average of 9,000 breakdowns daily. Other areas of the well-known business include AA Driving Schools, AA Smart Care, AA Cars and the Insurance division. 

Keycare have been operating in the key insurance market for over 45 years and are the market leader in providing recovery, assistance and insurance services for keys and locks. They serve over 2 million customers across the UK and Ireland and work as a strategic partner with some major blue chip brands including Tesco, Hastings, Aviva, RSA Ireland and BGL Insurance.

The deal involved guiding The AA through their first acquisition, advising through various stages in the transaction including strategic presentations at the outset of the deal, due diligence work and ultimately crucial project management to help both parties navigate various challenges to the deal timeline. 

Meera Shah, head of M&A and George Thresh, transaction services director, said: “We are proud to have worked collaboratively across the Buzzacott Corporate Finance team including key advisors from both the M&A and transaction services teams, to provide a breadth of expertise to our client.”