Driving school bought out

The Red Driving School group has been rescued out of administration in a move that safeguards around 400 jobs.
By The Newsroom
Published 23rd Feb 2010, 10:36 BST
Updated 23rd Feb 2010, 10:36 BST

LVG, which owns Red Driving School and Red Instructor Training, has been bought by private equity firm Kelso Place.

The deal secures the future of the Red brand and Kelso said it had no plans for redundancies.

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Red Driving School is the third largest in the UK, while the group's instructor training division is the biggest in Europe, with a network of 22 colleges.

Brighton-based LVG also owns Red Fleet Training, as well as driving instructor accountancy service FBTC, a trade magazine for the driving instructor training industry called ABI News, and Practical Driver Instructor Aids.

Kelso said it made a "significant equity investment" in securing the deal – said to be worth several million pounds.

The driving school group ran into trouble last week as a result of funding problems.

Related topics:KelsoREDEurope