acquisition Archives - Page 53 of 90 - Tyrepress

Posts

Kwik Fit Group confirms plans to sell Speedy, MBO plans

Kwik Fit Group has confirmed its intention to sell Speedy, the group’s French automotive fast-fit company. The announcement confirms earlier reports tyrepress.com published in September that suggested that the business’s suitors included president Jacques Le Foll, his predecessor Giles Chauveau, backed by investment fund Butler Capital, plus automotive centre operator Feu Vert, who previously had its eye on Speedy some four years ago. (Feu Vert is a French workshop and automotive specialty shop chain that operates more than 400 outlets, around three-quarters of which are located in France).

20th October 2011/by Tyrepress Editors

MRF considering international, including European, acquisition options

MRF Ltd is reportedly considering a number of overseas acquisitions options. According to various Indian news reports, top of the list are tyre plants and rubber plantations in moves that will form part of the company’s global expansion plans.

11th October 2011/by Tyrepress Editors

Conti turns 140

Tomorrow one of the world’s largest tyre and automotive component manufacturer will celebrate 140 years in the business. On October 8, 1871 nine bankers and industrialists from the German city of Hannover founded Continental-Caoutchouc & Gutta-Percha Compagnie as a joint stock company. The firm began life with joint stock valued at some 300,000 thalers, an amount equating to a present-day purchasing power of approximately 6.3 million euros, and at its first plant in Hannover a workforce of around 200 produced a range of rubber products including hot water bottles, toy dolls and solid tyres for carriages and bicycles.

7th October 2011/by Tyrepress Editors

Venture provided £37.5 million for Unipart deal

Company News, UK News

Venture Finance provided a funding line of £37.5 million to finance H2 Equity Partner’s recent acquisition of a controlling stake in Unipart Automotive. And what’s more there is said to be “increased appetite for structured private equity deals.”

6th October 2011/by Tyrepress Editors

Euro Car Parts sold to LKQ Corporation in £225 million deal

LKQ Corporation, purportedly the largest provider of aftermarket and recycled collision replacement parts in the US and Canada, has acquired Euro Car Parts. The initial purchase price was £225 million, however in addition the purchase agreement provides for the price to increase by a further £55 million if Euro Car Parts meets certain growth targets.

4th October 2011/by Tyrepress Editors

For sale: Itochu to divest French subsidiary Speedy

Only a few months after Japanese trading concern Itochu Corporation acquired UK fast-fit giant Kwik-Fit, the British company’s French subsidiary Speedy is, according to French media reports, up for sale. The resale of the Speedy fast-fit chain admittedly doesn’t come as a complete surprise, as from the outset Itochu expressed its main interest as being in the UK and Dutch markets.

21st September 2011/by Tyrepress Editors

H2 acquiring controlling stake in Unipart

Company News, UK News

H2 Equity Partners has announced plans to acquire a controlling stake in Unipart Automotive, the UK’s largest independent supplier of car parts, workshop consumables and garage equipment. Unipart Automotive is currently owned by Unipart Group. The agreement, which is expected to be concluded shortly, sees H2 Equity Partners taking majority ownership in the UK operation. Unipart Group will hold onto 49.9 per cent. Patrick Kalverboer, managing partner at H2, will become executive chairman of the new company.

14th September 2011/by Tyrepress Editors

Marangoni consolidates European presence, renames Ellerbrock

As of 1 September 2011, Ellerbrock Reifenrunderneuerungs-Technologie GmhH, which was acquired by the Marangoni Group in the early 1990s, officially began trading under the name Marangoni Retreading Systems Deutschland GmbH.

5th September 2011/by Tyrepress Editors

Somr named Mitas plant director in Ruma

Ivo Somr has been appointed director of the Mitas agricultural tyre factory in Ruma, Serbia following the planned return to the Czech Republic of the previous facility head, Rudolf Mačák. “Ruma plans to expand production of radial agricultural tyres,” Somr said.

1st September 2011/by Tyrepress Editors

Yokohama Australia gains ISO 14001

Yokohama Rubber Co., Ltd., has announced that Yokohama Tyre Australia Pty., Ltd. (YTA), its tyre sales company in Australia, obtained ISO 14001 certification on July 25, 2011. YTA began its efforts toward acquisition of certification in August 2010. Its practices were then reviewed by the Australian examination organization SAI Global Limited, and certified. YTA is the second of Yokohama Rubber's overseas tire sales companies to be accredited under ISO 14001, following Yokohama Tire Taiwan Co., Ltd.

11th August 2011/by Tyrepress Editors

Hankook, Yokohama and TPG linked to Multistrada purchase rumours

Hankook, Yokohama and buyout firm TPG Capital have all been linked to a possible share purchase of Indonesian tyre manufacturer PT Multistrada Arah Sarana. The firms are said to be bidding for a controlling stake worth “at least $200 million” in the Indonesian tyre maker, the Reuters news agency reports, citing three sources.

Multistrada is Indonesia's second largest tyre maker and is controlled by one of the country's biggest conglomerates, the Salim Group, along with investment banker Peter Tanuri. Together they are said to own over 44 per cent of the firm through direct and indirect stakes.

9th August 2011/by Tyrepress Editors

EC approves Rhodia acquisition bid

On August 5 the European Commission gave its approval for Belgium-based chemical company Solvay’s acquisition of Rhodia. Following this approval, the French Financial Markets Authority AMF has set the closing date of the friendly public takeover bid as Wednesday 24 August 2011. Solvay is offering 31.60 euros per Rhodia share and 52.30 euros for Oceane convertible bonds. As all prerequisite authorisations for the offer have been obtained, execution of the offer is now solely subject to a minimum acceptance level of 50 per cent plus one share on a fully diluted basis.

9th August 2011/by Tyrepress Editors

Toyo announces plans for new Malaysian tyre plant

Company News, International News, News

Toyo Tires has announced its plans to build a new tyre plant in Perak, Malaysia. The Japanese manufacturer’s board of directors decided to construct a new facility in order to strengthen Toyo’s production-supply capability for passenger car and light truck tyres mainly in the Asia region. Toyo aims to make sales worth 310 billion yen and operating income at 24 billion yen this year from tyres. The company says it has established a “three-point global production supply structure based on Asia, Japan and North America, in order to achieve a world-wide supply of 45 million tyres in 2015, representing an increase of 55 per cent from 2010 levels.

4th August 2011/by Tyrepress Editors

900M euro Evonik carbon black divestment complete

Evonik Industries reports successfully completing the divestment of its carbon black activities on July 29, 2011. The sale of the business to Rhône Capital and Triton Partners is valued at over 900 million euros, the company added.

1st August 2011/by Tyrepress Editors

Stapleton’s directors resign, Steve Parker moving to Kwik-Fit?

Stapleton’s managing director Kenji Murai and trading director, Steve Parker, have resigned from their positions as directors of Stapleton’s. Yutaka Kimbara has now been appointed as managing director of the leading tyre wholesale business and take over the leadership of the company with immediate effect. The news followed a board meeting yesterday (26 July 2011), which resulted in Stapleton’s directors communicating “a number of changes to its composition.”

27th July 2011/by Tyrepress Editors