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Goodyear acquires HiQ network south-east tyre retailer Weeting Tyres

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Goodyear Dunlop Tyres UK has acquired Weeting Tyres, a leading tyre retail company based in Norfolk, Suffolk and Essex, UK. The company operates four branches as a franchisee in Goodyear’s HiQ autocare network – in Bury St Edmunds, Chelmsford, Ipswich & Kings Lynn – as well as one independent branch in Brandon, Suffolk, which also functions as its head office. The area served by the latter branch is described as having a high value car parc. All sites will become Goodyear’s equity operating under the HiQ brand following the completion of the acquisition.

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Related news:

  1. Goodyear buys Easy Tyre and Autocentres
  2. Micheldever/Protyre moves up to fourth, Lodge Tyres jumps in retail rankings
  3. ETEL continues to lead top 20 UK tyre retailers 2019
  4. Goodyear not looking to buy back all HiQs
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The thinking behind Bridgestone’s TomTom Telematics acquisition

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Bridgestone’s successful acquisition of TomTom Telematics follows earlier reports that both Michelin and Bridgestone were vying to buy the Telematics business unit from Netherlands-based company TomTom. In addition, according to Dutch financial daily Het Financieele Dagblad, Michelin was one of four in the running. For its part, Michelin was allegedly aiming to add the business into its Michelin Solutions portfolio. Clearly, in order to maintain its original plans and to compete with Bridgestone, Michelin will now have to find an alternative way of moving forward.

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Related news:

  1. Michelin launches fleet tyre management apps
  2. Michelin Tire Care [strategy] launched
  3. Bridgestone Europe completes acquisition of TomTom Telematics
  4. Bridgestone buying Tomtom Telematics for 910 million euros
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Michelin buys Indonesian tyre manufacturer Multistrada

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Michelin has agreed to buy 80 per cent of PT Multistrada Arah Sarana TBK, the Indonesia-based tyre manufacturer. With a production capacity of more than 180 thousand tons (which equates to 11 million passenger car tyres, 9 million two-wheel tyres and 250 thousand truck tyres), Multistrada generated net sales of US$281 million in 2017.

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Related news:

  1. Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand
  2. Michelin now 99.64% owner of Multistrada
  3. Interested parties vie to acquire Indonesian tyre maker Multistrada
  4. Data increasingly important to future prospects in tyre and mobility sectors
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Bridgestone buying Tomtom Telematics for 910 million euros

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Bridgestone Europe NV/SA, the Europe Middle East and Africa (EMEA) subsidiary of Bridgestone Corporation, has entered into an agreement with TomTom to acquire its telematics business for a cash consideration of 910 million euros. Michelin had also been named as a suitor for the business when the news that TomTom Telematics was for sale emerged in November 2018.

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Related news:

  1. The thinking behind Bridgestone’s TomTom Telematics acquisition
  2. Bridgestone Europe completes acquisition of TomTom Telematics
  3. Data increasingly important to future prospects in tyre and mobility sectors
  4. TomTom shareholders set for 750 million-euro windfall
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FinTyre buys RS Exclusiv Reifengrosshandel and TyreXpert Reifen + Autoservice

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European FinTyre Distribution (EfTD) has signed a binding agreement to acquire two key players in the German tyre market: RS Exclusiv Reifengrosshandel GmbH and TyreXpert Reifen + Autoservice GmbH. As a result of the acquisition EfTD now has a total turnover of 740 million euros in Germany and project annual unit sales of 8.5 million tyres.

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Related news:

  1. Fintyre to open London head office
  2. European FinTyre Distribution buys Reifen Krieg
  3. Restructuring announced as Fintyre Group misses January wages
  4. Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”
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Coker Group acquisition completed

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Irving Place Capital has confirmed the completion of its acquisition of the Coker Group, in partnership with Coker president and CEO, Wade Kawasaki, and the current Coker Group leadership team. The Coker Group consists of the Coker Tire, Wheel Vintiques, Universal Vintage Tire, Phoenix Race Tires, Specialty Wheel and Roadster Wire Wheel brands. Tennessee-based Coker Tire Company is the world’s largest manufacturer/supplier of collector vehicle tyres and motorcycle tyres, with distributors in more than 30 countries.

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Related news:

  1. Leadership team, private equity firm acquire Coker Group
  2. Coker Tire acquires European distributor
  3. Coker offering Avon tyre brand
  4. Coker Tire offering Dunlop Sport vintage tyres
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Fintyre to open London head office

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The last couple of years have been something of a whirlwind for the European Fintyre Distribution project, which has seen the business grow from a key player in the Italian market into a wider European operation with aspirations of being the leading force in pan-European tyre distribution and perhaps even beyond. Tyres & Accessories recently met with European Fintyre chief executive officer Mauro Pessi in order find out more about the company’s decision to base its central headquarters in London as well as its general, ongoing growth.

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Related news:

  1. FinTyre buys RS Exclusiv Reifengrosshandel and TyreXpert Reifen + Autoservice
  2. Fintyre platform company acquires Reiff Reifen & Autotechnik
  3. European FinTyre Distribution buys Reifen Krieg
  4. Have the truck tyre import tariffs ‘worked’?
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Michelin, Bridgestone interested in TomTom telematics business

It appears that Michelin and Bridgestone are interested in acquiring the TomTom Telematics business unit from Netherlands-based company TomTom. According to Dutch financial daily Het Financieele Dagblad (FD), Michelin – one of four companies vying to acquire the business – allegedly aims to add the business into its Michelin Solutions portfolio. The other interested parties are said to be Pamplona Capital Management, which already holds a 26.5 per cent share in London-headquartered telematics and data analytics solutions provider Octo Telematics, and a second, unnamed investment company.

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Related news:

  1. The thinking behind Bridgestone’s TomTom Telematics acquisition
  2. Bridgestone buying Tomtom Telematics for 910 million euros
  3. Bridgestone Europe completes acquisition of TomTom Telematics
  4. Michelin buys Masternaut
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Interested parties vie to acquire Indonesian tyre maker Multistrada

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Quoting sources from the “investment banking industry,” BusinessKorea reports that “a number of global tyre companies” have shown interest in acquiring Indonesia’s second-largest tyre maker, PT Multistrada Arah Sarana Tbk. The publication names Hankook Tire and Michelin as two of the interested parties.

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Related news:

  1. Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand
  2. Michelin now 99.64% owner of Multistrada
  3. Michelin buys Indonesian tyre manufacturer Multistrada
  4. Wholesale acquisition: Hankook Tire buys Reifen Müller
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Leadership team, private equity firm acquire Coker Group

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US-based vintage and classic tyre manufacturer the Coker Group has new owners. Four years after the death of company founder Harold Coker, the Coker family has sold the business to Wade Kawasaki, the company’s president and chief executive officer, and the current Coker Group leadership team in partnership with private equity firm Irving Place Capital.

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Related news:

  1. Coker Group acquisition completed
  2. Coker Tire offering Dunlop Sport vintage tyres
  3. Coker Tire founder Harold Coker dies
  4. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
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Canada: Group Touchette acquires Atlas Tire Wholesale

Canadian tyre wholesaler Groupe Touchette Inc. has extended its market coverage in that country by acquiring Atlas Tire Wholesale Inc., a distributor with a strong presence in the Ontario region. According to Groupe Touchette, it does not intend to reorganise the businesses apart from “a few adjustments that may be necessary.” The plan is for the two companies to gradually integrate the Ontario market over the next year.

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Related news:

  1. US wholesaler expands in Canada
  2. Hercules purchase “fits very well” into ATD growth plan
  3. Bain Capital acquires Fintyre
  4. Clearlake Capital acquires Wheel Pros
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Formula One Autocentres buys Autowise

Formula One Autocentres is continuing its expansion programme with the acquisition of Autowise Tyre and Autocentres Ltd. Comprising of seven branches, Autowise is one of the South East’s leading tyre and autocare specialists, offering tyre, servicing, MOT, exhaust, brake, clutch and air-conditioning services.  As a result Formula One Autocentres now has 110 branches in total.

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Related news:

  1. Formula One Autocentres buys Equipe Autocare
  2. Kerr’s Tyres buys M & S Tyres Enniskillen
  3. The growing influence of autocentres on tyre retail
  4. Marubeni buys stake in Mexican tyre retailer
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Kerr’s Tyres buys M & S Tyres Enniskillen

Northern Ireland-based Kerr’s Tyres & Auto has acquired M & S Tyres in Enniskillen for an undisclosed sum. According to the company, the acquisition will further strengthen Kerr’s Tyres’ regional coverage. Kerr’s have retained the current staff and are recruiting further so customer service in the region can be maintained and further services introduced.

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Related news:

  1. Kerr’s Tyres buys Roundabout Tyre & Battery Service
  2. Kerr’s invests in 14 new jobs, Newtownards tyre centre
  3. Formula One Autocentres buys Autowise
  4. Kerr’s Tyres & Auto creates 20 new jobs in £2.5 million investment
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Bain Capital buys US distributor Dealer Tire

The private equity firm building up a European tyre distribution group through its acquisition of firms such as Fintyre and Reiff has made a significant investment in North America. Bain Capital reports its acquisition of a majority shareholding in US-based aftermarket tyre and parts distributor Dealer Tire, LLC. The interests of Lindsay Goldberg LLC, Dealer Tire’s investment partner since December 2014, will be acquired by Bain Capital Private Equity. The transaction is expected to close by December.

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Related news:

  1. European FinTyre Distribution buys Reifen Krieg
  2. EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business
  3. EfTD rebrands as Fintyre Group
  4. Tirescanner.com live in 42 US states, multi-million dollar funding close
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Pirelli completes high-end tyre JV

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With the completion of Pirelli’s acquisition of a 49 per cent stake in Jining Shenzhou Tyre Co., the tyre maker’s management assume operational responsibility for the joint venture company’s consumer tyre plant in China. Pirelli states that the new plant will provide it with the “necessary production flexibility” it requires within its ‘High Value’ segment to accommodate the evolving Chinese market as well as expected developments in electric vehicles and the growing share of original equipment homologations obtained in China, Japan and Korea.

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Related news:

  1. Pirelli acquires 49% in Chinese tyre plant to boost APAC ‘high value’ strategy
  2. Pirelli Extends China JV Relationship
  3. ChemChina’s latest Pirelli shares held indirectly
  4. Pirelli and Hixih move closer together
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