Continental sells Tikka Spikes Oy via management buy-out

Continental has sold its Finnish Tikka Spikes Oy business to the company’s management in a management buy-out (MBO). As a result, parts of Tikka’s current management team led by Juha Rautiainen will acquire all Tikka Spikes Oy shares through their newly founded company Tikka Industrial Oy. The target date for completion is 1 March 2024. All Tikka Spikes employees will stay with the new owners. Existing supply, development and testing partnerships with Continental will be continued. Both parties have agreed not to disclose the purchase price.

“We are proud of how Tikka has developed since 2008, in terms of technology and its overall business success,” says David O’Donnell, Head of Global R&D for Passenger Car and Light Truck Tires at Continental. “Tikka is a renowned expert when it comes to tyre studs. We will continue to rely on their extensive expertise in this area in the future through joint development and testing.”

“As an independent company we can serve a much wider customer base with our premium products”, says Juha Rautiainen, managing director of Tikka Industrial Oy. “We look back on more than 15 years of successful collaboration as part of Continental. This has enabled us to develop our company enormously in all areas.”

Tikka Spikes is one of the world’s largest manufacturers of tyre studs. With more than 60 years of experience, the company is known for innovation and uncompromising quality in developing and manufacturing high-quality studs for the most demanding winter driving conditions. Tikka Spikes is headquartered in central Finland and currently employs around 50 people.