Isuzu Truck (UK) Joint Venture

Jyun Utsumi, senior executive officer of Isuzu Motors Japan comments, “We have watched the growth of the business in the UK with great pride and pleasure. ITUK has steadily grown from strength to strength and we have been very impressed.”

Managing director Nikki King OBE, states that the day-to-day running of the company will remain unchanged and that all existing services, agreements and relationships remain in place. “We are very grateful to RAC plc which has supported our growth over the past eight years. RAC will continue to be our national provider for services that are so important to our customers; namely roadside assistance, parts supply and emergency windscreen replacement. We now have the perfect structure to go forward, whilst a partnership with Isuzu Motors will enable us to do even more for our customers.”

Nikki King continued, “All of the shareholders in the business now have the same aim and ambition – to make Isuzu the major light truck specialist in the UK. We now have our own identity and a partner who is one of the largest truck manufacturers in the world. Naturally we will continue with our philosophy towards customer care which has only been possible through commitment and understanding of customer needs.”

Peter Counsell, director of Meta Corporate Finance, said, “This is a splendid opportunity for Nikki King and her team in partnership with Isuzu Motors. The management team is very strong and the Isuzu products are extremely well supported by Isuzu Care, ensuring a substantial amount of repeat business. Meta was delighted to work with the team to achieve their aims and I look forward to a long association with the new partnership.”

Nikki King commented, “We are very grateful to Peter Counsell for his experienced support during the negotiations. He understood the nature of ITUK and its philosophy and skilfully guided us through the maze of issues that are inherent in such a complex transaction. Meta had a very difficult role as they were heavily involved in negotiating in two cultures. First they worked with us concluding the deal from the perspective of the RAC and then they facilitated the buy-out from a Japanese perspective with Isuzu Motors Japan.”