Halfords investing up to £81 million in Axle Group acquisition
Following the news that Halfords Group is buying Axle Group Holdings Ltd including 239 National Tyres garages and 60 mobile tyre fitting vans, further details relating to the transaction have emerged. Firstly, while company announcements refer to the purchase of “National”, Halfords’ latest acquisition actually sees the company purchase the entire issued share capital of Axle Group Holdings Ltd (“National”) for £62 million. And the transaction is expected to be completed on 9 December 2021.
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Halfords ‘motoring revenue’ will be 70% post National Tyres acquisition
According to Halfords, the acquisition of National Tyres delivers “on its strategy to become a Motoring Services focused business”. Halfords Autocentres has always been amongst the most profitable parts of the overall Halfords Group businesses and financial figures have consistently shown that autocentre-related revenue is amongst the fastest-growing parts of the group. But what the National Tyres acquisition specifically means is that what Halfords terms “motoring revenue” will “represent more than 70 per cent of Group pro-forma revenue”.
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Iverson Tyres also bought by Halfords
In addition to the acquisition of Axle Group/National Tyres, Halfords has also bought London-based Iverson Tyres, which describes itself as a “specialist supplier and fitter of tyres and provider of adjacent maintenance services”. Iverson Tyres was founded in 1992 and is made up of four locations in Chiswick, Hanwell, Northolt and Farnham Common.
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Halfords buys National Tyres and Autocare in £62 million deal
Halfords is paying £62 million for National, the tyre and automotive servicing, maintenance and repair business, which operates under the National Tyres and Autocare, Viking Wholesale Tyres and Tyre Shopper brands. As a result, Halfords’ garage estate will grow by more than 60 per cent (from 372 to 604 garages), offering MOT, servicing, fitting and repair services. According to Halfords, this deal makes it “the largest vehicle service, maintenance and repair business in the UK, with the majority of UK households within a 20-minute drive of a Halfords garage.” However, Tyres & Accessories data suggests European Tyre Enterprises Ltd (ETEL), which incorporates 650 Kwik Fits in its portfolio, is still the largest in the UK with a total estate of 740 at the last count.
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RH Claydon to open Tunbridge Wells depot in January
RH Claydon will continue its expansion plan with a new 20,000 sq ft depot in Tunbridge Wells, Kent. The unit, on the North Farm Industrial Estate will be the company’s seventh, taking its total storage capacity to more than 240,000 sq ft. The depot will be operational from 4 January 2022, opening for collections Monday-Friday between 8:00 and 17:30, and on Saturday mornings 9:00-12:00.
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Manchester-based industrial specialist Fork Truck Tyres continues to grow
In mid-November Tyres & Accessories visited Manchester-based Fork Truck Tyres, a company that is rapidly becoming a key player in the Northern English industrial tyre business and considering its next steps towards expansion. T&A spoke with company founder John Grey, sales manager Tony Gallagher and warehouse manager Stuart Dorney in order to find out more.
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Project TREE: A blockchain-driven, more sustainable rubber supply chain
Japan’s Itochu Corporation announced today the commercial launch of Project TREE, an initiative that uses a blockchain-based traceability system to ensure the sustainability and traceability of natural rubber. Partners participating in the Project include Itochu subsidiaries and tyre manufacturers, and the UK will be the first market to benefit.
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Bridgestone signs commercial partnership with Collease
Vehicle rental company Collease has signed a two-year agreement with Bridgestone, incorporating all types of trailers and motorised equipment. Collease operates around 2,000 vehicles from the east of England. It said Bridgestone’s flexibility, attention to detail, and long-term approach to fleet management secured the partnership.
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FJM Logistics opts for Michelin Agilis CrossClimate all-season van tyres
Belfast last-mile van fleet FJM Logistics has opted to fit Michelin’s all-season van tyre, the Agilis CrossClimate, across its 37 vans. Michelin says the move will halve the number of tyres fitted over the coming year, as well as offering year-round traction and grip. FJM Logistics delivers up to 5,000 parcels every day, and the intensiveness of its operations led managing director Fraser Orr to take a closer look at the firm’s tyre fitment policy.
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Launch UK introduces battery jump starter
Launch UK is aiming to kick-start the jump starter market with its new ESP-150 Battery Booster. Released in time for the winter season, the ESP 150 is designed for those moments when a vehicle just won’t start. It’s portable and has a battery capacity of 1500mAh to enable it to jump start a car up to 10 times.
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GaragesNear.Me spending £10,000 a month on PPC till end of 2021
GaragesNear.me, a car service and repair booking platform, is increasing its investment in Pay Per Click (PPC) marketing tenfold to over £10,000 per month for the rest of the year.
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CV manufacturing up 17.2% in October
UK commercial vehicle production increased to 7,892 units in October, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). October’s 17.2 per cent growth in output, the highest uplift since June this year, follows a weak October 2020 where operators delayed fleet renewal due to issues relating to the pandemic and uncertainty over a no-deal Brexit.
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Michelin and Go-Ahead extend tyre partnership in line with sustainability goals
Go-Ahead has extended its long working relationship with Michelin, committing to a further three-year Effitires contract with the tyre manufacturer’s Services & Solutions division. The contract covers 99 per cent of Go-Ahead’s UK 6,000-strong bus fleet and increasingly caters for electric buses.
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Continental recalls 67,128 tyres across Europe, including 477 in the UK
Continental today announced a voluntary tyre replacement program for 67,128 ContiEcoContact 5 tyres in size 235/55 R 17 103 H XL across Europe. However, the number of tyres being voluntarily recalled in the UK is far lower, with just 477 ContiEcoContact 5 tyres sold in the UK replacement market covered by the announcement. The reason for the recall? “In rare cases, if the affected tyres are used over a longer or repeated period of time, with heavy loading or possible overloading, a sudden loss of air may occur.”
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GaragesNear.Me goes commission-free until 2022
Online booking system GaragesNear.me has announced it is going commission-free until at least the end of 2021. The platform is waiving its 10 per cent fee to encourage more bookings and build on its success. This means the site is completely free to garages.
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