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SRI’s acquisition of Micheldever completed

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Sumitomo Rubber Industries, Ltd. (SRI) has completed its acquisition of Micheldever Group Ltd., having purchased 128,787 shares from Graphite Capital Management LLP – an enterprise value of £215 million. Upon the transaction’s closure, SRI owns a business that generated sales of approximately £320 million in the last financial year and is the holding company of Micheldever Tyre Services Ltd, an operation that employs 1,574 people and sells some 6 million tyres a year.

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