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Kerr’s Tyres buys Auto Bann

Kerr’s Tyres Group

At the start of August, Kerr’s Tyres Group, announced it had completed the purchase of Auto Bann. The acquisition of Auto Bann, one of Portadown’s most respected independent garages, means Auto Bann becomes the 13th Kerr’s Tyres & Auto location in Northern Ireland and the first in Portadown. Having entered Tyres & Accessories top 25 UK tyre retailer ranking in May 2021 when the company had 12 branches, the addition of Auto Bann means the chain’s current total of 13 is one step closer to 24th position, which is currently occupied by Elite Garages, with 14 branches.

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  1. Kerr’s Tyres buys Roundabout Tyre & Battery Service
  2. Kerr’s Tyres buys M & S Tyres Enniskillen
  3. Kerr’s Tyres & Auto creates 20 new jobs in £2.5 million investment
  4. Kerr’s Tyres buys MW Tyres & Exhausts
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Bridgestone boosts fleet portfolio with Azuga acquisition

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Bridgestone Americas (Bridgestone) has reached an agreement with tech-focused private equity firm Sumeru Equity Partners, connected vehicle specialist Danlaw and other shareholders to purchase Azuga Holdings, Inc. (Azuga) and the Azuga fleet management platform for US$391 million. Bridgestone says the acquisition will accelerate its efforts to develop and deploy sustainable mobility solutions as a “central pillar of the company’s advanced mobility strategy.”

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  1. Jab for cash: Bridgestone Americas offers employees $100 for vaccination
  2. Bridgestone: Sale of Firestone Building Products completed
  3. Bridgestone Americas expands leadership roles
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Hexpol completes 48 million euro Unica acquisition

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Hexpol completed the 48 million euro acquisition of 100 per cent of Unión de Industrias C.A., S.A. (Unica) from Espiga Capital, a Spanish based Private Equity firm on 7 July 2021. Unica’s turnover in 2020 amounted to 40 million euros, with a profitability “below Hexpol Group”, according to the business’s new owner. Unica will be consolidated into Hexpol from 1 July.

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  1. Hexpol buys 80% of Mesgo for 168 million euros
  2. Hexpol buys Berwin Group for £25 million
  3. Hexpol buys Valley Processing for $44 million
  4. Hexpol growth driven by compounding and exports
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Nynas changes hands again

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Nynas

After a turbulent few years, tyre industry supplier, Nynas AB has changed hands again signing a binding agreement with an investment vehicle managed by Davidson Kempner Capital Management LP for the acquisition of the entire equity stake (49.9%) in Nynas from Bitumina Industries Limited, making it the largest individual shareholder of Nynas.

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  2. Bitumina becomes Nynas’ largest shareholder
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DTM acquires TyreWatch

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Edward Moss Photography

Skelmersdale headquartered tyre management specialist DTM, which is backed by Palatine Private Equity, has acquired TyreWatch, Europe’s market-leading provider of real-time tyre monitoring technology. Based in Basingstoke, TyreWatch provides digital tyre management services to monitor and manage the wheels and tyres of HGVs and public service vehicles. Established in 2017, it has grown to support clients across the UK, Europe, the Middle East, Africa and Australia.

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Wheelwright sold in management buyout

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Wheelwright Limited’s management team recently acquired the company from previous managing director Kevin Greer through a management buyout process. According to the company, “this means that Wheelwright Limited is now owned and operated by the same team of experienced enthusiasts that helped the Kent-based company achieve its existing position as the country’s leading supplier of aftermarket wheels and chassis-related products.”

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Cooper Tire joins the Goodyear team

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Cooper Tire

Cooper Tire has “officially joined the Goodyear team”. That’s how Cooper Tire general manager EMEA, Jaap Van Wessum characterised the takeover of the company by fellow US tyremaker Goodyear, which was completed on 7 June 2021. Van Wessum also offered further details of what Cooper’s integration into Goodyear means for Cooper suppliers and partners.

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  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Cooper shareholders approve Goodyear merger
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Goodyear completes Cooper Tire acquisition

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The Goodyear Tire & Rubber Company has confirmed that it has completed its acquisition of Cooper Tire & Rubber Company, finalizing the merger agreement announced on 22 February 2021. The announcement brought with it one or two more hints of how the synergisation of the two businesses might work.

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  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Cooper shareholders approve Goodyear merger
  4. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
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Mahansaria Tyres (MTPL) to buy Tyres International

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Mahansaria Tyres Private Limited (MTPL) has made an agreement in-principle with Tyres International Inc (TI) to buy a majority stake in the US-based tyre wholesaler. According to MTPL, the move is the latest part of its bid to build a global, market leading off-Highway tyre business and the first part of MTPL plans to build its distribution network in North America.

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  4. Pirelli truck tyres separating and merging with Aeolus/ChemChina
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Italmatic acquires Go Energy and continues focus on technologies

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Italmatic

Italmatic has announced the acquisition of Roverto, Italy-based Go Energy Srl (previously SD Meccanica), a specialist in the field of tyre manufacturing robotics. The acquisition adds to Italmatic’s status as a global leader in terms of technology and comprehensiveness of the range of machinery and accessories it offers the tyre retreading and repair industries.

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Yokohama buys Polish tyre distributor from Itochu

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EMIS

On 6 May 2021 Yokohama Europe GmbH, signed an agreement to acquire 100 per cent of Poland’s ITR CEE Spółka z.o.o., a wholesale distributor engaged in the import and sale of Yokohama tyres in central and eastern Europe. The acquisition is scheduled to be concluded on 14 May 2021, after which the Polish company’s name will be changed to Yokohama CEE Spółka z.o.o.

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Goodyear launches private offering to raise funds for Cooper Tire acquisition

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The Goodyear Tire & Rubber Company commenced a private offering of US$1.45 billion aggregate principal amount of 8- and 10-year senior notes on 13 May 2021.

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  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. Cooper shareholders approve Goodyear merger
  3. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
  4. Bumpy roads and leveraged buy-outs – reflections on the Goodyear/Cooper Tire integration
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Brembo buys J Juan for 70 million euros

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Brembo

At the end of April, Brembo agreed to buy 100 per cent of J.Juan Group, a Spanish company specialising in the development and production of motorbike braking systems, for 70 million euros. The acquisition is expected to close in the second half of 2021 following regulatory approvals.

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  4. Brembo fourth-quarter net profit up +17.5%
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Cooper shareholders approve Goodyear merger

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Cooper shareholders approve proposed merger with Goodyear Cooper Tire & Rubber Company’s stockholders have voted overwhelmingly to approve the planned merger with The Goodyear Tire & Rubber Company. The vote was held at a special meeting of Cooper stockholders today. Cooper reports that approximately 99 per cent of votes cast were in favour of the transaction. Read our coverage of Goodyear’s acquisition of Cooper here, or in our special 12-page e-paper supplement.

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  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Fitch rating affirmation partially affirms Goodyear Cooper acquisition strategic logic
  4. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
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Bridgestone acquiring mining tyre management system supplier

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Bridgestone is to acquire the Otraco OTR tyre management solutions business from Downer EDI, continuing its growth strategy. The acquisition will be made by the number one tyre manufacturer’s group company, Bridgestone Mining Solutions Australia Pty. Ltd. Bridgestone said the acquisition will accelerate the growth of its global mining solutions business and expand the company’s service network in key markets such as Australia, Chile and South Africa. Bridgestone wants to complete the transaction, valued at 79 million Australian dollars (approximately £44 million), by the end of 2021.

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