Risk Capital Partners has taken a majority stake in crash repairer DWS Bodyworks for an undisclosed sum.

DWS repairs passenger cars and light commercial vehicles for insurers from 15 bodyshops located around the M25.

It carries out roughly 50,000 vehicle repairs a year.

RCP has partnered with Steve Field, the chief executive, to take control of the business from Dave Smithyes, who founded DWS 26 years ago and will remain as a director and minority shareholder.

DWS generates £5 billion annually and has grown its revenues from £5m to £48m in recent years, and employs over 500 staff.

Steve Field, chief executive officer of DWS said: “I am delighted to partner with Risk Capital to expand DWS. They worked to a very tight timetable and I look forward to working with them in the coming years to take advantage of the undoubted opportunities in our market.”

Luke Johnson, Founder of Risk Capital Partners, said: “We want to continue organic growth at DWS and explore the possibility of add-on acquisitions.”