Handl Group, a provider of insurance, legal, and healthcare services, has acquired We’ve Got The Key Limited (WGTK), an auto locksmith company, in a move to expand its service offerings. The acquisition involves obtaining 100% of We’ve Got The Key’s share capital and aims to double the business’s size within 18 months, following the appointment of Peter Crellen as the managing director.
Chris Chatterton, the chief commercial officer of handl, expressed his enthusiasm for the deal, highlighting We’ve Got The Key’s potential to capture a 4-5% market share with new leadership and substantial investments in people and technology. This ambitious goal involves doubling the annual number of callouts from 50,000 to 100,000 and expanding its reach to support motor insurers with key-related claims. A target that the team is dedicated to achieving.
Chatterton pointed out, “The auto locksmith market is hugely disaggregated, with literally thousands of sole traders, and a few small panels, but we believe WGTK has the potential to become a national brand for resolving auto lockouts in the same way that Home Serve did for home emergency cover.”
We’ve Got The Key is already the UK’s largest auto locksmith company (At the moment the company’s main services are emergency car unlocking, car key replacements, programming and changing manufacturers’ locking and security systems), serving various clients, including insurers, breakdown and recovery services, fleet and rental sectors, and consumers in need of urgent assistance. The company also serves trade customers with extensive fleets and aims to expand its presence among car dealerships, self-insured fleets, and secure additional insurance contracts.
This acquisition aligns WGTK with Coplus, handl’s specialist ancillary insurer and claims handling business, both headquartered in Norwich, United Kingdom.
The acquisition price was not disclosed. The deal was completed in mid-autumn. Peter Crellen, the new managing director, expressed enthusiasm about the future and his focus on expanding the leadership team, increasing the number of auto locksmiths, and solidifying WGTK’s position as the most trusted and preferred auto locksmith in the UK. With the demand for auto locksmiths on the rise due to evolving technology and security systems, We’ve Got The Key is poised for further growth and success under its new management.
You may also like: Professional Car Locksmith Services: How To Find Out The Best One
Image source: elements.envato.com