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ETEL, Kwik-Fit decline to comment on sale speculation

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On Friday 18 September 2020, it emerged that Kwik-Fit and European Tyre Enterprises Ltd (ETEL) owner Itochu has appointed investment bankers Nomura to act as its strategic investment consultancy with relation to the future of its European tyre business. The move has been widely interpreted as sale preparation. In light of the news, Tyres & Accessories contacted ETEL and Kwik-Fit representatives in order to find out more. Both declined to comment officially. However, supplementary information on Itochu’s third-quarter 2020 and full fiscal year 2020 results give further details of the conglomerate’s explanation as to why the company did not present a 2021 profit forecast for ETEL as it normally would.

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Related news:

  1. Kwik Fit owner Itochu prepares for sale scenario
  2. Itochu Buys Kwik-Fit for £637 million
  3. Itochu sold 26 Kwik-Fit freeholds in the first half of 2020
  4. Pirelli Sells CPK Tyre Wholesale Business to Stapleton’s
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Heuver acquires Bevri

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Netherlands-based tyre wholesaler Heuver has grown through its acquisition of the Bevri Groep, a wholesaler from Zeewolde in central Netherlands. Heuver will operate the two Bevri businesses, Bevri Banden (Bevri Tyres) and Bevri Wheels, as an independent company within the Heuver Group, retaining a separate corporate identity. The wholesaler says that by combining the strengths of both companies, it can now “offer an even more complete range” of tyres and wheels.

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Related news:

  1. Heuver Tyre app upgrades without internet connection
  2. Heuver Tyrewholesale plans for agricultural growth with new product manager
  3. Heuver Tyrewholesale to show latest Aeolus innovations to Reifen 2016
  4. Heuver Tyrewholesale to exhibit Aeolus products
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Point S partner acquires Nokian’s Vianor US operation

Nokian Tyres has sold its Vianor US business to Oregon-based Point S member Gills Point S Tire. The transaction covers ten Vianor service centres, with all current Vianor US service centre employees will be taken on by Gills Point S Tire & Auto Service.

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Related news:

  1. US wholesaler expands in Canada
  2. ATD pays up to $365 million for Terry’s Tire Town
  3. Purchase Completes Vianor Chain In Sweden
  4. Vianor Expands into New Hampshire
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Mahansaria Tyres Private Limited (MTPL) completes acquisition of EATD

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Mahansaria Tyres Private Ltd (MTPL) has completed the previously announced acquisition of a majority stake in European Agriculture Tyre Distributor (EATD). As a result, EATD has relocated its operations from Strijen, The Netherlands, to Wallenhorst in Germany.

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Related news:

  1. EATD to distribute Mahansaria off-highway tyres in 8 European markets
  2. Mahansaria Tyres comments on EATD acquisition
  3. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  4. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
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McConechys website migrates to Halfords.com

Halfords

McConechys Tyre Service, which was bought by Halfords last year, is migrating its website to the Halfords.com portal. At the same time as making the website migration announcement, company representatives revealed: “All of the [49 form McConechy’s] garages have been trained to provide the same services that would be expected at a Halfords Autocentre, including both on demand and bookable services.

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Related news:

  1. Halfords Buys Nationwide Autocentres for £73.2 million
  2. Nationwide Autocentre Purchase Brings Halfords Full Circle
  3. Halfords relaunches trade card
  4. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
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Rockwell Automation acquires Acquisition ASEM S.p.A.

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The launch of the VersaView 6300 family follows the May 2020 acquisition of ASEM S.p.A (Photo: Rockwell Automation)Rockwell Automation

Rockwell Automation has announced the introduction of its VersaView 6300 family of Allen-Bradley Industrial Computers, which will be available starting August 2020. The launch of the VersaView 6300 family follows the May 2020 acquisition of ASEM S.p.A. and represents an extension of the company’s capability for industrial PCs (IPC), human machine interface (HMI) and secure Industrial IoT remote access solutions.

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Related news:

  1. Brembo North America Acquires Hayes Lemmerz Division
  2. Amerityre Acquires Kik Technology Assets
  3. Dongah Tire & Rubber Acquires Avon Automotive Vibration Business
  4. Analysts: Cooper 3Q results surprise, but shares fall
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Bridgestone buys iTrack Solutions from Transense Technologies

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Bridgestone has bought iTrack from UK-based Transense Technologies for an undisclosed fee (Photo: Bridgestone)Bridgestone

Bridgestone has bought iTrack, which provides tyre management solutions for the off-the-road (OTR) market, from UK-based Transense Technologies Plc. All employees of the iTrack Solutions business will join Bridgestone as part of the acquisition. No financial details have been released.

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  1. Transense confirms Bridgestone cooperation
  2. Transense Forms Translogik RFID Subsidiary
  3. The thinking behind Bridgestone’s TomTom Telematics acquisition
  4. Bridgestone: customisable MasterCore tyres represent “absolute leadership” in mining sector
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Exide EMEA bought by lenders, but still up for sale

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Following news that Exide Technologies entered Chapter 11 bankruptcy protection on 19 May 2020, Exide has been bought by long-term lenders who have injected cash, but remains up for sale until the end of July. Specifically, the new owners of Exide EMEA and Asia-Pacific are subject to conditions outlined in the transaction document to “maintain continued employment of the company’s workforce in these regions”. For example, as part of the agreement, the ad hoc lender group has provided additional liquidity of up to $75 million. The agreement also includes a “go-shop” period with a bid submission deadline and auction to be held in early July 2020.

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Related news:

  1. Exide enters bankruptcy
  2. Cabot buys Chinese nanotube supplier for $115 million
  3. Voith buys Thyssenkrupp Services in UK
  4. Tyre makers in the battery manufacturing space
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Exide enters bankruptcy

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Exide slideExide Technologies

On 19 May battery manufacturer Exide Technologies entered chapter 11 bankruptcy protection, announcing “a comprehensive strategy to best position its businesses in North America, EMEA, and Asia-Pacific to benefit its employees, customers, suppliers, and other stakeholders across the globe.” In short, the strategy puts the Exide’s US business in chapter 11 and sells the Europe Middle East and Africa (EMEA) to the firm’s long-term lenders.

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Related news:

  1. Exide EMEA bought by lenders, but still up for sale
  2. Batteries for All Applications
  3. Cooper Tire reopening US and Serbia tyre factories
  4. Bridgestone EMIA resuming manufacturing
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Fintyre in talks with “potential new investors”

Fintyre, the large but troubled European tyre distribution enterprise, has confirmed that it is talking to “potential new investors” in a statement designed to clarify its ongoing position “given the events that have taken place in the last few months”.

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Related news:

  1. European FinTyre Distribution buys Reifen Krieg
  2. Fintyre platform company acquires Reiff Reifen & Autotechnik
  3. Fintyre to open London head office
  4. EfTD rebrands as Fintyre Group
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MAHA acquires ATT

Workshop and vehicle testing equipment company MAHA Maschinenbau Haldenwang GmbH Co. & KG has acquired a 100 per cent shareholding in ATT, the joint venture workshop equipment company founded in 2000 by Robert-Bosch GmbG and the Nussbaum Group. The change of ownership took place on 30 April.

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Related news:

  1. Conti planning to grow workforce by 7,000 this year
  2. German authorities give Michelin green light to acquire Ihle Baden-Baden
  3. Fintyre platform company acquires Reiff Reifen & Autotechnik
  4. Wholesale acquisition: Hankook Tire buys Reifen Müller
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Bridgestone acquires former Fintyre Germany tyre trade group Reiff

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Reiff

Bridgestone has acquired German specialist tyre trade group, Reiff Reifen und Autotechnik GmbH. The company, part of the collapsed Fintyre Germany group, includes the Reiff, Netto and ABS brands. Reiff runs a network of 42 retail stores in the south of Germany, as well as a tyre retreading plant, all of which are part of the acquisition deal. It has more than 500 employees.

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Related news:

  1. Fintyre platform company acquires Reiff Reifen & Autotechnik
  2. Bridgestone sells Kingsway to Lodge Tyres
  3. European FinTyre Distribution buys Reifen Krieg
  4. Fintyre Group employee pay ‘coming’, restarting business operations a priority
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Cabot completes acquisition of Shenzhen Sanshun Nano New Materials

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Cabot Corporation has completed its previously announced acquisition of Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN) for approximately US$115 million. The business will be integrated into Cabot’s Performance Chemicals Segment.

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Related news:

  1. Cabot buys Chinese nanotube supplier for $115 million
  2. Cabot planning to invest US$90 million in Louisiana factory
  3. Sinochem International Buys 51% of GMG
  4. Strong export growth at Jiangxi Blackcat
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Warburg Pincus acquires first tranche of Apollo Tyres shares

Warburg Pincus is now a shareholder in Apollo Tyres Ltd. During a meeting yesterday, the tyre maker’s Committee of Directors – Private Placement allocated Emerald Sage Investment Ltd., an affiliate of the private equity firm, 54,000,000 compulsorily convertible preference shares. Emerald Sage paid a total of Rs s. 5,400,000,000 (£57.56 million) for the shares in this first tranche transaction, or Rs 100 each.

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Related news:

  1. Warburg Pincus investing £117 million in Apollo Tyres
  2. India’s competition authority approves Warburg Pincus’ investment in Apollo Tyres
  3. Apollo Tyres approves £105 million NCB issue
  4. Court dismisses Cooper appeal
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India’s competition authority approves Warburg Pincus’ investment in Apollo Tyres

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The Competition Commission of India (CCI) has approved Warburg Pincus’ indirect acquisition of a 9.93 per cent stake in Apollo Tyres Limited. The purchase of 108,000,000 compulsorily convertible preference shares in the tyre maker, each share worth Rs 100, is being carried out by Emerald Sage Investment Limited. This transaction is worth approximately Rs 10.8 billion (£114 million).

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Related news:

  1. Warburg Pincus investing £117 million in Apollo Tyres
  2. Warburg Pincus acquires first tranche of Apollo Tyres shares
  3. Aiming for market leadership: Apollo investing a further £610 million in India
  4. Apollo aims for leadership in Indian two-wheel tyre market, Europe next
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