McConechy takes Over Hi-Q

Scottish fast fit McConechy’s Tyre service has taken a giant leap in corporate development by buying 33 outlets from Goodyear and Dunlop. In a deal which nearly doubles the size of the fast fit operation. This is the first big expansion since the company was established in the 1960’s and makes the family owned company the largest independent in the specialised truck tyre market in Scotland.

The directors now say the company is in a better position to compete with Kwik-Fit through the purchase of 33 Hi-Q and Motorway Tyres outlets which extend from Kirkwall, on the Orkney Islands, to Lockerbie, in Dumfriesshire. McConechy’s now operates 61 outlets, but expects to see some rationalisation bringing that number down.Donald Carmichael, finance director said the deal into millions of pounds and was expected to boost turnover from £19 million to £35 million and should significantly improve profits before tax.

Last year the firm made a pre-tax profit of £267,000 which indicates the level of margins found in the business.The total number of staff employed at McConechy’s will increase from 230 to around 400 after the deal has been completed..