Mishcon de Reya has advised long-term client Autovista Group and its management team on the sale of Autovista Group to J.D. Power, a global leader in data analytics.
Through its five leading brands - Autovista, Eurotax, Glass’s, Schwacke and Rødboka - Autovista Group standardises and categorises hundreds of technical attributes for virtually every vehicle produced in the European and Australian markets, providing clients with a 360-degree view of detailed vehicle data for use in valuations, forecasts and repair estimates.
The deal creates strong value for customers of Autovista Group and J.D. Power by bringing together Autovista Group’s comprehensive European and Australian market intelligence with J.D. Power’s market-leading predictive analytics and valuation and customer experience datasets.
Autovista Group’s senior leadership and its 700 employees will continue with the company and will become J.D. Power’s automotive data and analytics platform for Europe and Australia. These complementary offerings will give original equipment manufacturers (OEMs), dealers, insurers and financing companies a truly global view of critical trends influencing the industry, along with the tools they need to accurately forecast risk, capitalise on burgeoning trends and align sales strategy with real-time market dynamics.
The acquisition is expected to close by the end of 2023 and is subject to customary closing conditions as well as regulatory review and approval.
The Mishcon de Reya team was led by Corporate Partner Andrew Rimmington, with assistance from Corporate Partners Allison Keyse and James Paterson, and support from Incentives Partner, Liz Hunter and Associates Karine Bashardust and Thomas Istefanous. Tax advice was provided by Partner John Skoulding and Managing Associate Stephen Elhabbal.
Lindsey Roberts, CEO at Autovista commented: "Andrew is the best at what he does, as are his team. And it always shows. We look forward to continuing our close relationship with Andrew and the Mishcon team as we continue to grow as part of the JD Power Group".
Andrew Rimmington commented: "It has been an absolute pleasure working with such a dedicated and professional management team at Autovista and richly deserved after so many years of hard work."