Rockworth has advised on the sale of Splink Industries, the technology company that created the James May Theory Test App.
Splink has been acquired by RED Driving School, which provides tuition to learner drivers through more than 1,600 instructors across the UK. RED is backed by private equity, with investors including Downing, Trimountain Partners and Ashridge Capital. The acquisition strengthens RED’s digital presence and creates a new revenue stream, as well as creating opportunities to cross-sell practical driving lessons to users of the app.
Splink launched the James May app in 2019 and it is now the UK’s highest rated theory test app. The app’s algorithm creates personalised daily learning plans for users, and lesson content includes high-quality video starring James May.
RED’s chief executive Seb Goldin said: “Moving into the Theory Test education space is a natural move for RED and will further cement our position as a leading Driver Education provider, adding immediate value for our customers and investors. The James May theory App is both highly rated and uniquely constructed to support our rapidly growing number of students.”
Gus Colquhoun of Splink Industries said: “Having developed the highest-rated Theory Test app over the course of the last two years, we’re delighted to be joining forces with RED, the largest driving school in the country. We’re very much looking forward to working with the RED team to develop further world-class digital driver training solutions.”
Ali Khanbhai, Partner and Co-Founder of Trimountain Partners remarked: “The acquisition of Splink is a strategic milestone for RED as we continue to broaden and further digitise our business, solidifying our presence in the wider B2C and B2B automotive education/training and content space, with a view to incrementally accelerating our growth. We are absolutely thrilled to have the Splink team join the RED family and look forward to building on the terrific foundation they’ve laid to-date.”
David Sherratt, founder and CEO of Ashridge Capital added: “We are delighted to have completed the acquisition of Splink, giving us a best-in-class driver theory App and cementing our position as the UK’s leading driver training business. We look forward to working with the team and leveraging our customer base to further develop the business.”
