BSM operates one of the best-known driving schools in the UK and are currently in their 100th year of trading. BSM has c2,100 franchised driving instructors across the UK and also provides training for new instructors. It currently employs 141 staff at the Bristol head office and a further 154 located in 88 network centres located across the UK providing support to the franchised instructors. Following the sale to the AA, all franchise agreements and employees will transfer over and the BSM brand will be retained.
The Eversheds team was led by restructuring Partner Gemma Curtis who was assisted by Senior Associate Brian Rawlings and solicitors Anne Louise-Lawrence and Chris Umfreville. Partner David Beswick advised on employment matters.
Gemma Curtis commented:
“We are extremely pleased to have advised our long standing client PwC on a pre-packaged transaction of real merit, providing the best possible option for BSM and its stakeholders.”
Matthew Hammond, joint administrator and partner at PwC said:
“We are very pleased to announce the sale of the BSM to the AA. The last few weeks have seen an intensive period of activity as we worked with the Group to explore the options available to them, and ultimately achieve the best outcome for the business and many of its creditors, but in particular students and others receiving driving tuition. Gemma Curtis and her Team at Eversheds in Birmingham provided first rate advice and a seamless service working with our team to achieve a great result.”
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