Micheldever Put Up for Sale, Wholesaler Could Reach Over £200 million

The UK’s largest tyre wholesaler Micheldever Tyre Services (MTS) could be about to change hands for over £200 million, more than twice the price paid for the company when it was sold in an equity-backed management buyout for £85 million in 2006. According to reports published in the 11 April issue of the Sunday Times, the sale would include 50 Protyre depots – Micheldever’s growing retail chain. MTS an annual turnover of £275 million, a roughly 20 per cent market share and employs almost 900 people.

According to the reports “trade rivals and private equity [are] likely to be interested.” So far there has been no confirmation of which strategic buyers are involved in negotiations, but the UK’s largest tyre retailer, Kwik-Fit, was linked to discussion back in 2006.

Representatives of Graphite Capital refused to comment on “market speculation,” but pointed to the fact that “the last four years have gone extremely well.”