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CTS Group raises 112 million euros to back growth

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Circular Tire Services Europe Holding (CTS Group) has completed the inaugural issuance of senior secured bonds totalling 1.3 billion Swedish krone (£93.717 million; 112.176 million euros; US$118.491 million). Net proceeds from the bond issue will be used to “refinance existing debt and for general corporate purposes” including mergers and  acquisitions, with company representatives saying the financing provides a “foundation for future growth driven by M&A and organic initiatives.”

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Related news:

  1. Däckhuset i Norrland makes a hattrick of CTS members
  2. Gummicentralen Säffle joins CTS
  3. Nacka-Värmdö joins CTS
  4. Tyre e-tailer Pneusmart secures 765,000 euros financing
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Nacka-Värmdö joins CTS

Nacka-Värmdö Däckdepå is the latest to join the Circular Tire Services (CTS) Nordic tyre distributors group. Nacka-Värmdö Däckdepå sells tyres and rims as well as running a tyre hotel for both passenger cars and heavy vehicles.

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Related news:

  1. Däckhuset i Norrland makes a hattrick of CTS members
  2. Gummicentralen Säffle joins CTS
  3. Competition heats up in the Europe’s coldest tyre markets
  4. Further growth for CTS
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Competition heats up in the Europe’s coldest tyre markets

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September has been a month of official openings. Specifically, Nokian Tyres opened its Romania tyre factory – something it has done in record time (see pages 14-16 for the details). And Linglong flipped the switch on passenger car tyre manufacturing at its Serbia plant too (see pages 18-19). At the same time, October’s magazine focuses on tyre wholesale (see page 44 onwards) and industrial tyres (from page 36). However, this column turns its attention to an arguably under-reported part of the European tyre market – the Nordic/Scandinavian tyre business.

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Related news:

  1. Lapin Kumi and Colmec form joint tyre services group
  2. Däckhuset i Norrland makes a hattrick of CTS members
  3. Port problems cause Honda Swindon shutdown, pressurise UK tyre supply
  4. Do markets dream of electric cars?
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Däckhuset i Norrland makes a hattrick of CTS members

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The news that Däckhuset I Norrland, based in Northern Sweden, has joined Circular Tire Services (CTS) makes it a hattrick of new members of the fast-growing Scandinavian tyre distribution during the course of a month.

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Related news:

  1. Nokian becomes World Orienteering Championships title sponsor
  2. Norgesdekk buys 67% of Valla Däck AB
  3. Sweden’s JJ’s Däck now a Colmec business
  4. Ingers Däck joins CTS
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Norgesdekk named exclusive Magna Tyres distributor for Norway

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Magna Tyres Group has appointed Norgesdekk its exclusive distributor for Norway, an arrangement it views as a continuation of its “ambitious global expansion strategy” and a reinforcement of Magna Tyres’ presence in Scandinavia. Norgesdekk will offer the full range of Magna OTR and industrial tyres to customers in the Norwegian market.

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Related news:

  1. Norgesdekk buys 67% of Valla Däck AB
  2. Magna Tyres Group buys Polish tyres dealer Industra
  3. Magna Tyres opens Serbia and Montenegro office
  4. Norgesdekk buys Dexen AB
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Ingers Däck joins CTS

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Following the news that Gummicentralen Säffle has joined CTS, another firm has announced that it too is partnering with the Scandinavian tyre distribution operation. Specifically, Ingers Däck, one of Sweden’s largest tyre shops, is joining what is loosely being called Circular Tire Services (CTS).

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Related news:

  1. Nokian becomes World Orienteering Championships title sponsor
  2. DSV now exclusive Westlake distributor in Scandinavia
  3. Nokian Tyres splits Europe in Central Europe and Nordic regions
  4. Norvestor acquires truck tyre distributor Colmec Group
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ZC Rubber and DSV agree 10-year partnership extension

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ZC Rubber has extended its strategic partnership with logistics firm DSV. The new agreement extends their successful collaboration by 10 years. DSV A/S, the parent company of DSV Road Holding NV employs over 60,000 people across 90 countries. Recently, DSV outbid several competitors to acquire DB Schenker, the logistics subsidiary of German state-owned railway operator Deutsche Bahn, for approximately 14.3 billion euros. This acquisition marks a significant expansion for DSV in the logistics sector, positioning it to become the world’s largest freight operator.

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Related news:

  1. Westlake supplies 3000 DSV trailers with tyres in OE expansion bid
  2. ZC Rubber to launch 3 new Westlake truck tyres at IAA 2024
  3. DSV now exclusive Westlake distributor in Scandinavia
  4. Massive drop in trailer production projected in 2020
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Gummicentralen Säffle joins CTS

This year Colmec, Lapin Kumi and several local workshop owners have come together to form a new tyre service group that – for not, at least – goes by the name of CTS, which stands for Circular Tire Services. Now Gummicentralen Säffle has also joined the group.

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Related news:

  1. Däckhuset i Norrland makes a hattrick of CTS members
  2. Norvestor acquires truck tyre distributor Colmec Group
  3. Sweden’s JJ’s Däck now a Colmec business
  4. Ingers Däck joins CTS
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Compilator agrees TiDaeX integration with e-jobsheet

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Compilator AB, part of UK-based Kerridge Commercial Systems Limited, is partnering with Mobile IT Apps to deliver TiDaeX integration via the e-jobsheet tyre service app for the UK and the Republic of Ireland. The move comes in anticipation of its planned expansion into Scandinavia and North America. The integrated partnership will be formally introduced at the ITIA conference in Dublin on 29 February 2024.

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Related news:

  1. Autodoc triples tyre sales, reports 600 million euro total sales in Q3 figures
  2. Vaculug signs 5-year TiDaeX contract for e-jobsheet connectivity
  3. Conti360° Solutions signs up to TiDaeX
  4. Number of UK e-jobsheet dealer subscribers hits 60
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Norvestor acquires truck tyre distributor Colmec Group

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Nordic private equity investor Norvestor has acquired a majority stake of Scandinavia and Poland based truck tyre distributor Colmec Group. The company was founded in the 1960s by the Eckerström family, which previously led the company. Peter Eckerström, who stepped down as CEO in early 2022, and the family will remain as minority shareholders after the company’s leadership opted to bring in the new majority owner to lead the company into a new development phase.

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Related news:

  1. WTA Distributes Hanksugi Japan
  2. Al Saeedi Adds New Gallant Truck Tyre Size
  3. Alliance sponsors National Tractor Pullers Association
  4. Michelin UK truck tyre team take responsibility for ‘North Europe’
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Norgesdekk buys 67% of Valla Däck AB

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Valla Däck AB; Norgesdekk

Norwegian tyre business Norgesdekk has bought 67 per cent of the shares of Valla Dack AB as part of a move into the Swedish market. The Swedish business, which turns 40 this year, had a turnover of more than SEK 190 million in 2021 (£15.444 million; 18.330 million euros).

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Related news:

  1. Norgesdekk buys P. Holth
  2. Norgesdekk AS agrees to buy Hjulius Dekk og Felg AS
  3. Independent Scandinavian tyre dealers a focus for new Iceland Tyres range
  4. Van den Ban acquires Swedish tyre wholesaler Amring
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Vimexa becomes STRO corresponding member

In order to support its ambition of becoming a true Nordic tyre & wheel specialist, independent tyre distribution firm Vimexa has become a corresponding member of the STRO (Scandinavian Tire and Rim Organization) in Sweden. Announcing Vimexa’s STRO membership, managing director Rutger Veerman said “we have realised strong growth in the Nordic (and Baltic) region during the last five years, and with our hub in Helsinki the logistics is optimal.”

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Related news:

  1. Vimexa enlarges Scandinavia/Baltic presence
  2. Vimexa moving forward as an independent intermediary
  3. Discover Vimexa in 90 seconds
  4. Vimexa: Don’t be stopped by shipping issues
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Vimexa enlarges Scandinavia/Baltic presence

At the start of this year, independent tyre distribution specialist Vimexa expanded its offices at the Technopolis facility near Helsinki-Vantaa airport. Managing director Rutger Veerman says more office space was needed to accommodate the “substantial” growth that Vimexa has enjoyed in Scandinavia and the Baltic region during the last three years.

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Related news:

  1. Vimexa moving forward as an independent intermediary
  2. Discover Vimexa in 90 seconds
  3. Vimexa increasing service in Scandinavia, Baltic with new branch office
  4. Tyre wholesaling – a decade of change
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Elysium Nordic gains Danish environmental permit

Elysium Nordic ApS’s environmental permit application for an end-of-life tyres recycling plant based on Scandinavian Enviro Systems AB (publ.) (Enviro)’s technology.

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Related news:

  1. Enviro: Partners still “highly interested” in Danish, North American tyre recycling projects
  2. RISE and Environ embark on tyre-derived oil research project
  3. Enviro and Michelin extend strategic partnership letter of intent
  4. Nokian becomes World Orienteering Championships title sponsor
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Nokian Tyres splits Europe in Central Europe and Nordic regions

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Nokian Tyres is separating its Business Area Europe into two business areas: Business Area Central Europe and Business Area Nordics. Anna Hyvönen, SVP Vianor and member of Nokian Tyres Management Team, has been appointed SVP Nordics and Vianor, with the additional responsibility for Nokian Tyres Nordics. Pontus Stenberg, who has been SVP Europe and member of Nokian Tyres Management Team, is leaving the company to pursue his career outside of Nokian Tyres. Hannu Liitsola, currently managing director Central Europe, has been appointed interim Head of Business Area Central Europe.

Read more

Related news:

  1. Nokian gives winter market overview
  2. Nokian becomes World Orienteering Championships title sponsor
  3. Michelin UK truck tyre team take responsibility for ‘North Europe’
  4. Nokian Tyres: Financial targets aim for faster growth in Europe, North America
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