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Carlyle Group looking to sell NARS

The Carlyle Group is seeking a buyer for Nationwide Accident Repair Services (NARS), one of the biggest automotive repair networks in the UK.

Sky News has reported that the private equity group has hired corporate finance adviser Stephens Europe to find a buyer and oversee the sale.

The Carlyle Group bought NARS five years ago for around €48m.

NARS has a network of 115 service centres and mobile repair vans across the UK, and according to its website carries out more than 300,000 repairs a year.