BSM changes hands again
Nov 11 2009 by Peter McCusker, The Journal
THE British School of Motoring has changed hands for the second time in less than a year after its bosses unveiled a £10m deal to take the wheel.
BSM’s joint managing directors Abu-Haris Shafi and Nikolai Kesting, who led the takeover, outlined ambitious plans to recruit another 3,000 driving instructors and open more centres within the next two years.
The acquisition comes just nine months after insurance giant Aviva sold BSM to German private equity group Arques Industries, which had parachuted Mr Shafi and Mr Kesting in to manage the driving school.
The pair, who previously held a minority stake in BSM, now own 100% of the Bristol-based driving school having agreed to pay the full £10m to Arques over a period of years.
