Cedar Garage is an independent car garage established in 1982 in Worthing. The business was taken over by Matt and Kev in April 2013 providing servicing, repairs, diagnostics and MOT testing to all makes of petrol, diesel and hybrid vehicles. Known in the automotive industry for their pioneering approach to EV repair at Cedar Electric, Matt and Kev’s continued commitment and focus on hybrid and electric vehicles has resulted in Cedar Electric becoming the UK’s leading electric vehicle repair specialists. As a result of this transaction, Matt and Kev have been able to partner with LKQ to launch LKQ Electriq, a new business that will offer independent garages and bodyshops a repair-first solution for electric vehicle batteries and high-voltage components, whilst also allowing Cedar Garage to continue business as usual.
As electric vehicles continue to gain market share, investments in the specialised equipment and knowledge required to repair EV batteries and electric motors remain prohibitively expensive for many repairers, especially given unpredictable work volumes in the relatively early stages of EV adoption. With LKQ Electriq, independent garages and bodyshops can now rely on a specialist team led by Matt and Kev to provide high quality, cost effective outsourced support.
Garages will be able to retain their customers and even attract new ones as they move to electric vehicles. In the event a vehicle is in need of more complex and advanced repairs, the garage will still be able to offer the solution with no need for extensive upfront investment, and in doing so, continue to compete with the OEM dealers.
Danos Athanasi, Corporate Partner at DMH Stallard, acted for Cedar Garage and Matt and Kev and led on the matters jointly with Chris Gleeson, Corporate Partner at DMH Stallard. Danos said:
“Thrilled to have supported Cedar, Matt and Kev on the demerger and joint venture. Both projects were a long time in the planning and it is great to see the visions become a reality. I have no doubt that the partnership with LKQ will be a great success and look forward to seeing LKQ Electriq thriving.
He added:
“This was yet another fantastic team effort by the DMH Corporate Sussex Team (Chris, Beth and other specialists at DMH) delivering for a local business, which required superb skill and patience in bringing together the complexities of a demerger and joint venture resulting in a successful closing of both.”
Chris Gleeson said:
“It was great to work with Kev and Matt on the demerger and joint venture. Both elements involved detailed review and negotiation between various stakeholders. We were required to provide comprehensive advice to our clients whilst also taking a pragmatic approach to progress the matters. It was good to work with Kreston Reeves again on transaction. I look forward to seeing the success of LKQ Electriq moving forwards.”
Kev Pearce said:
“Working with DMH made the process manageable. They presented everything in a way that we could understand, which for anyone that does not have a degree in law was needed. It was a pleasure to deal with Chris and Danos and I wouldn’t have wanted to go through the process without them. We are made up that we have completed and look forward to the next chapter.”
Matt Copp said:
“Fantastic support and legal guidance from Danos, Chris and their team throughout and we thank them greatly. Over the past decade, we have worked to prove that safe and reliable EV battery and high voltage component repairs can be delivered outside OEM channels. With LKQ Electriq, we bring that capability directly to garages and bodyshops enabling them to say ‘yes’ to EV repair work they might otherwise have to decline. Our unique repair solutions avoid the need for a full battery replacement – keeping EVs running more sustainably.”
