Tech start-up Fixter acquired by Renault Group
Rockworth provided lead advisory services to the shareholders of Fixter
Renault has announced its acquisition of British technology company Fixter. Rockworth acted as lead adviser to the shareholders of Fixter, exploring various financing options for the business before Renault emerged as the preferred acquirer.
Fixter’s online platform makes it easy and convenient to arrange car services and MOTs. Users can book online and have their car picked up and returned by one of Fixter’s team of vehicle delivery drivers. Garages are fully vetted by Fixter before being added to the platform, and Fixter’s service advisors make sure quotes are fairly priced.
The acquisition of Fixter is part of Renault’s strategy to enhance the after-sales service levels offered to Renault drivers. Renault’s 2,500 Motrio-branded service centres across Europe will be added to the platform. The Fixter service will also continue to be available to the owners of other makes of cars.
Fixter was founded in 2017 by Frédéric Dermer and Cristian Vrabie, along with current chief executive Limvirak Chea. Based in London, the business received early funding through an initial €6m investment by Kamet Ventures.
Limvirak Chea said, “We are delighted to have found in Renault an industry partner who shares both our vision and our ambition to reinvent vehicle maintenance for the future – simple, transparent and hassle-free. The expertise and resources of a major group like Renault, combined with Fixter’s agility and start-up mindset, will help us to go even further and faster in this revolution.”
Hakan Dogu, Renault’s SVP for Global After-Sales, commented, “By acquiring Fixter, we will be able to combine the expertise and strength of the Group and its network with Fixter’s agility and knowledge of all the digital aspects of automotive maintenance. We will thus be able to offer services of the highest quality and accelerate the digitalization of our activities.”