The company, steered by accident management industry expert and 51.3 per cent shareholder Steve Evans, will provide its services to eight Mercedes Benz dealerships in DaimlerChrysler’s Birmingham and Manchester territories, which together represent the biggest volume territory for Mercedes Benz cars outside London.

An enthusiastic Evans claims the initial deal will last at least a year, with referral business generating around 100 cases a month. This is a great win for the group, which reversed into AIM-shell XecutiveResearch in April with a £1.5 million fundraising and boasts Lord Young of Graffham as chairman.

Accident Exchange recently became an approved supplier for BMW and Evans is negotiating with several other potential partners. Profits in the year to April sped up six fold to £1.11 million on £4.12 million sales.