Worcestershire advisers lead high speed acquisition

Worcester-based accountancy and tax firm Rabjohns LLP and Bromsgrove based Thomas Horton LLP have recently advised on the acquisition of Everyman Racing by Drivers Dream Days Ltd.

Rabjohns has acted as accountants and tax advisers to Drivers Dream Days, which has provided high speed drivers' track day experiences, since 2008. This recent deal has proved that some companies do still have an appetite for acquisitions despite the current uncertain economy.

Drivers Dream Days Ltd., one of the largest independent providers of track day experiences, has bought the business of Everyman Racing to create the market leader in this leisure sector. Everyman, founded by John Farnham, has been in business since 1981. The combined business will operated mainly from the Prestwold Hall track near Loughborough and will provide a full range of experiences including a range of exotic super cars such as Aston Martins, Ferraris and Lamborghinis.

The deal was completed in just seven weeks.

Rabjohns Partner Ian Smith led the deal and said, "Any acquisition for a client is enjoyable - but when it involves a really exciting business like this, it makes the whole process even better. We were delighted to work closely with Jeff Taylor to get the deal completed despite a short timescale coinciding with Christmas and then some severe weather. We look forward to working with the enlarged business in the future."

Darren Edmonds, Managing Director of the enlarged Drivers Dream Days business commented: "I have known about the Everyman Motor Racing business for many years and believe it has fantastic potential to strengthen our offering and ultimately to give our customers an even better motoring experience. We now have exclusive use of our own track facility that will allow us greater control over our operation. We set a challenging acquisition timetable and so it was important to work with a professional team that had the skills, resource and commitment to deliver. We were delighted with the performance of Thomas Horton and Rabjohns who well managed the hiccups and issues that inevitably arise with these transactions, and delivered the project on time and on budget."

Jeff Taylor partner at Thomas Horton solicitors commented; "Darren is a businessman who knows what he wants. His focus and determination is inspirational and we were delighted to work with him and his team to secure the future of the Everyman and Drivers Dream Days operations. There were several unusual and technical aspects to this transaction and we were delighted to work with Darren and Rabjohns to deliver innovative and constructive commercial solutions. The market for adrenalin adventure and thrills experiences is quite mature but resilient and I predict that Drivers Dream Days will grow its market share and continue to provide an ever improving customer experience, even in the current economic climate. What better way to reward or treat yourself than to enjoy the thrill of an exotic sports car and pretend you are Schumacher or Hamilton for the day."

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