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Bain Capital building ‘European tyre distribution group’

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This year specialist private equity firm Bain Capital has been busy making strategic acquisitions in the European tyre wholesale and retail sectors. First off the company bought Italian tyre wholesaler Fintyre from previous owners Bluegem Capital back in March. Then at the end of June the firm added the German Reiff operation to its portfolio, an acquisition that was subsequently approved by the EC in August. Tyres & Accessories recently interviewed Ivano Sessa, one of Bain Capital Private Equity’s managing directors, and learnt that there are plans for further mergers and acquisitions with a view to creating a “larger tyre distribution group across Europe”.

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Related news:

  1. Fintyre platform company acquires Reiff Reifen & Autotechnik
  2. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  3. Is Unipart Automotive being lined up for sale to Euro Car Parts?
  4. Bridgestone sells Kingsway to Lodge Tyres
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Camso buys Stanley Industrial Tires

Camso has acquired US firm Stanley Industrial Tires, which offers tyre service and distribution in Texas and Louisiana. The business has locations in Dallas, Waco, and Gladewater, Texas and one in Shreveport, Louisiana.

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Related news:

  1. Camso buys Forklift Tyre Specialists Hull Ltd.
  2. Camso’s Solideal offers contactless on-site mobile tyre service worldwide
  3. Michelin negotiating to acquire Camso
  4. New Solideal non-marking press-on forklift tyres
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Kenda buys Starco

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Taiwan-based tyre manufacturer Kenda has purchased Starco Europe. Announced on 2 October, the move is described by Kenda as “a good cultural, organizational and strategic fit” for which both companies see “significant long-term opportunities”. Kenda has been a Starco supplier since 1982. Over the last 12 months a series of meetings determined a clear willingness from both Kenda and Starco to take the partnership to another level. Starco does not plan any organizational changes or redundancies related to the acquisition.

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  • Full analysis of tyre business segments
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Related news:

  1. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  2. Trelleborg finalises acquisition of Mitas manufacturer, CGS Holding
  3. Western Europe launch – development of Starco’s solid forklift tyre ranges continues
  4. Doublestar the only bidder left to buy Kumho
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Bridgestone sells Kingsway to Lodge Tyres

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Following an extensive period of negotiations with Lodge Tyres, Bridgestone has agreed to sell its share capital in Kingsway Tyres. Lodge has completed the acquisition of the Kingsway retail business, which operates from 15 depots, predominantly in the east of England. Indeed the Kingsway website already features Lodge Group branding and refers to 16 depots, suggesting some degree of reorganising and/or re-branding has already taken place.

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If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

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  • Full analysis of tyre business segments
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Related news:

  1. Bridgestone to acquire Speedy France retail network
  2. Sumitomo MTS acquisition ‘ensures continuity’ of management, brand strategy
  3. Another retail acquisition for Bridgestone in France
  4. The thinking behind Bridgestone’s TomTom Telematics acquisition
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Goodyear to acquire Ventech Systems from Grenzebach Maschinenbau

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Goodyear has agreed to acquire Ventech Systems GmbH, a leader in automated tyre inspection technology, from Grenzebach Maschinenbau GmbH. The company was founded in 2006 and offers a fully-automated tyre inspection system that checks tyre pressure, tread depth and vehicle weight for buses, trucks, cars and other vehicles. The transaction is expected to close in the fourth quarter. The business and technology will be integrated into the company’s Goodyear Proactive Solutions business.

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Related news:

  1. Fleet Symposium brings stakeholders together
  2. The thinking behind Bridgestone’s TomTom Telematics acquisition
  3. Cetaris Orders Transense Tread and Pressure Equipment
  4. Proactive Solutions helps Reynolds’ fleet tyre costs
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Zenises denies Doublestar acquisition rumours

Zenises Group CEO, Harjeev Kandhari has denied rumours emanating from the Spanish market that Chinese tyremaker Doublestar has bid as much as 250 million euros for the company. Doublestar and Zenises entered into a European joint venture in October 2016.

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Related news:

  1. Doublestar forms European joint venture with Zenises
  2. Zenises, Doublestar officially confirm strategic partnership
  3. Harjeev Kandhari appointed vice chairman of Doublestar Europe
  4. Doublestar the only bidder left to buy Kumho
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EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business

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A further step towards consolidation within Europe’s tyre wholesaling sector has been taken with the European Commission approving the sale of Reiff Reifen und Autotechnik to US private equity fund Bain Capital Investors LLC. The new owner states its intention to become a regional leader within this business.

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Related news:

  1. Fintyre platform company acquires Reiff Reifen & Autotechnik
  2. European FinTyre Distribution buys Reifen Krieg
  3. Fintyre to open London head office
  4. Buyers found for 2 more Fintyre businesses in Germany
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Doublestar wants Kumho Tire stake for KRW 800 billion

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On Friday, we reported that Chinese tyre maker Qingdao Doublestar Tire was angling for a ten per cent discount on the 42.01 per cent stake in Kumho Tire it wishes to acquire. Not so, wrote The Korea Times over the weekend – according to its sources, Doublestar wants creditors to cut the price to KRW 800 billion (£544.6 million), a discount of 16.2 per cent on the original bid price.

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Related news:

  1. New Kumho Tire asking price a chance for Park Sam-koo
  2. Tyre makers show interest in buying Kumho Tire stake
  3. Creditors, Doublestar Tire receive final offer for use of Kumho brand name
  4. Kumho Tire proposal ‘tentatively’ accepted
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Toyo sells chemical business to Nitta

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Japanese rubber products manufacturer Nitta has is to acquire the chemical and chemical and industrial products businesses of Toyo Tire and Rubber for 3.7 billion yen. The purchase does not include the now infamous seismic isolation rubber business.

Back in March Toyo Tire and Rubber said it was planning to sell its non-automotive operations and use the funds to strengthen its tyre business. Toyo Tire is expected to use the money from the sale to expand its tyre plant in Malaysia and invest in a US design centre set to open in 2018.

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Related news:

  1. Toyo exhibits global racing pedigree with Ken Block, BJ Baldwin at Tokyo Auto Salon
  2. Toyo Sales Up, Income Down in Half Year Results
  3. Toyo Issues Voluntary Tyre Recall
  4. Toyo issues safety recall in the US
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Uni-Select completes £205 million Parts Alliance purchase

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Uni-Select Inc. has completed the acquisition of 100 per cent of the shares of PA Topco Limited (The Parts Alliance), the second largest national independent distributor of automotive aftermarket parts in the UK. As previously announced, the £205 million pricetag was fully funded with debt from available credit facilities.

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Related news:

  1. Broadway Bought By Traxx Tyres
  2. Trelleborg to Acquire UK’s Watts Tyre Group
  3. Andrew Page, The Parts Alliance buy 33 Unipart Automotive branches
  4. Uni-Select Inc. acquires The Parts Alliance Group
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Superior Industries publishes Q2 2017 results, updates outlook

Second quarter results for aluminium wheel manufacturer Superior Industries International, Inc. show both record unit shipments and a net loss. These results for the quarter to 25 June 2017 also include one month of results from Uniwheels AG, in which Superior acquired a major shareholding on 30 May 2017. Upon tomorrow’s settlement of the delisting tender offer, Superior will own approximately 93.2 per cent of Uniwheels’ common stock shares.

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Related news:

  1. Superior Industries acquires 92.3% share in Uniwheels
  2. Uniwheels business boosts Q1 2018 sales, profit at Superior Industries International
  3. Superior Industries appoints new president, CEO
  4. Uniwheels ends 2016 with record sales volumes
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DEKRA expands in Portugal through MasterTest acquisition

The three testing stations run by DEKRA in Portugal have now been joined by a further 11 following the acquisition of Portuguese testing organisation MasterTest. DEKRA has been in the market for vehicle inspections in Portugal since 2016 and plans to open three further stations there by the end of the year.

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Related news:

  1. Hayes Lemmerz Completes Sale of its System Service Division
  2. Genan acquires BioSafe tyre recycling plant
  3. Kumho Tire share price rises on acquisition speculation
  4. Clearlake Capital acquires Wheel Pros
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Camso acquires Omni Industrial Tire

Camso has expanded its tyre service and material handling distribution footprint in the USA with the acquisition of Texas-based Omni Industrial Tire. Commenting on the acquisition, Bob Bulger, vice-president and general manager – Solideal On-Site Service, said: “The acquisition of Omni Industrial Tire will enable Camso to further penetrate the Texas market and consolidate its leadership position in this region. Omni has a strong and respected name in Texas, and shares our unique view of providing OTR mobility solutions.”

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Related news:

  1. Icahn offers counterbid for Pep Boys
  2. Bridgestone receives payout as Pep Boys deal dies
  3. Omni United buys A to Z Tire in US
  4. Clearlake Capital acquires Wheel Pros
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Kumho Tire’s creditors accept proposal

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Nothing now stands in the way of Qingdao Doublestar Tire’s acquisition of a 42.01 per cent share in Kumho Tire. Last Friday, the creditors of Kumho Tire accepted the offer made by Kumho Asiana.

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Related news:

  1. Creditors strive to keep Kumho Tire deal alive
  2. Acquisition ugliness: Kumho Tire execs threaten mass resignation
  3. Kumho Tire proposal ‘tentatively’ accepted
  4. Kumho Tire acquisition: Is a tyre maker behind Tire Bank bid?
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