Micheldever Tyre Services reports its acquisition of a “much respected family business.” Denton Tyre Centre, which operates two outlets in Carlisle and one in Dumfries and fits 100,000 tyres a year, has joined the company’s Protyre retail division. The Dumfries outlet becomes Protyre’s first in Scotland.
The financial year ending 31 December 2015 saw Malaysia’s Goodway Integrated Industries Berhad (GIIB), parent company of Goodway Rubber Industries and several other rubber compounding and retreading businesses, record its second consecutive net loss despite a positive contribution from the firm’s new venture into property development. To reverse this trend, GIIB is decreasing its reliance upon the company’s traditional rubber and tyre-related core business, and it has now taken a significant further step in this direction through the acquisition of S5 Systems Sdn Bhd. GIIB says this transaction will result in a “significant change in business direction.”
On 30 June Universal Tyres acquired Jetyres. The deal, which was six months in the making, sees Universal add Jetyres’ four retail branches to the company’s existing portfolio of 12 tyre retail locations. With a combined total of 16 points of sale, Universal looks likely re-enter the UK top 20 in 2017 as a result of the transaction. No details of the levels of investment connected to Universal’s purchase of Jetyres have been released.
Continental Tyre Group has bought Bandvulc (B.V. Environmental Ltd.), one of only two substantially sized independent retreaders in the UK. Not only does the deal change the face of UK tyre retreading, it also has a significant impact on commercial vehicle tyre market shares owing to the fact that Continental can now count Bandvulc’s strong fleet management, service provider and independent truck tyre retreader amongst its own. The takeover will establish Bandvulc as a wholly owned subsidiary of Continental UK Group Holdings Limited. T&A understands Bandvulc’s existing management team are to continue to lead the business.
On 1 July, Yokohama Rubber completed its acquisition of the Alliance Tire Group. The Japanese company’s new subsidiary is now headed by Toru Kobayashi, formerly assistant to Yokohama Rubber president Hikomitsu Noji, who has been appointed Alliance Tire Group chairman.
Omni United has purchased Texas-based A to Z Tire & Battery, Inc – Omni’s second US-based distribution acquisition. Now the focus is on consolidating the distribution businesses (A to Z Tire and the previously acquired Interstate Tire Distributor) into a single unit under a new brand identity. No further details of what brand and when this will take place have been released.
Chinese firm CIMC Vehicles has acquired Northern Irish firm Retlan Manufacturing Limited, which includes well-known trailer manufacturer SDC Trailers
Local news sources quote David Li, general manager and director of the board of CIMC Vehicles, as saying: “We are delighted to have acquired the Retlan Group. The acquisition will mark an exciting new chapter in its history. We look forward to working with the existing management to continue its fine tradition of high quality UK-based manufacturing and to the opportunity for further investment to help grow the business.”
Eagle-eyed visitors to Reifen 2016 may have noticed that the Remog stand was staffed by Wegmann Automotive employees. In response to questions from Tyres & Accessories regarding the Wegmann Automotive presence, the German company confirmed it acquired its Italian competitor last autumn. Managing director Thorsten Thom states that the Italian balancing weights manufacturer, which was established in 1964, will continue to “operate independently within the market” and retain its headquarters in Rezzato. He stresses that Remog’s acquisition by Wegmann Automotive won’t affect customers in any way. Some changes, however, have taken place.
On 9 June Alcar Deutschland GmbH took over 100 per cent of DBV Würzburg GmbH’s tyres, rims and lubricants business units in a bid to expand its distribution network. DBV’s filling stations business unit will remain with Andreas Bathon, the company’s former owner. As well as expansion in general, as a result of the takeover, Alcar Deutschland has set a course for the strategically important fitted units business segment and hopes to increase online sales, while also expanding the Alcar Group’s own product range.
Pneusmart, the Amsterdam-headquartered online tyre dealer, has secured seed funding of 765,000 euros led by Shark Bites, Digital Magics and a group of international angel investors.
According to the company, the funds will be used to consolidate Pneusmart’s position in the Netherlands, Germany and Italy. The company will further invest in its Milan office from where it will coordinate its activities in Southern Europe. In the coming months new websites will be launched in Spain and France.
Safanad, the investment firm, has acquired a controlling interest in the UK’s largest alloy wheel manufacturer, Rimstock Plc. Rimstock, which recently celebrated its 30th year in manufacturing, employs over 230 people at its facilities in the West Midlands, England and produces both aftermarket and OE wheels. According to the companies, the business will remain headquartered in West Bromwich, United Kingdom.
Germany’s Continental AG is said to be discussing the potential acquisition of Kumho Tire, and is just one of several tyre makers apparently interested in purchasing the company. News of this development comes at a time when Kumho Asiana Group chairman Park Sam-Koo’s efforts to regain control of Kumho Tire have run into difficulties.
On Friday 3 June Swedish firm Hexpol bought 100 per cent of the Berwin Group Ltd shareholders Glyn Williams and his family for around £25 million. Berwin has more than 60 years’ experience of rubber compounding and is a leading Rubber Compounder in the UK market.
Trelleborg has finalised its acquisition of leading agricultural, industrial and specialty tyre manufacturer, CGS Holding as. The total cash consideration amounted to approximately 10.9 billion Swedish krona (approximately £0.91 billion) on a cash and debt-free basis. CGS is headquartered in the Czech Republic and generated sales of approximately SEK 5.6 billion (£0.47 billion) in 2015 with an operating margin of 16.5 percent. The Czech company also produces engineered polymer solutions.
Bridgestone has announced its plan to acquire 100 per cent of the car service and tyre retail network Speedy France. The manufacturer intends to use the new acquisition to increase its direct access to end-users in France, one of its core European markets, as well as in other markets where Speedy has a presence. The finalisation of the acquisition is subject to approval by the regulatory authorities; once approved, and the transaction is completed, Bridgestone’s French presence will be expanded to more than 800 retail outlets, contributing strongly to its accelerated growth strategy.
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