Tag: acquisition

Upstream acquisition: Michelin purchases Lehigh Technologies

Upstream acquisition: Michelin purchases Lehigh Technologies

Thursday 19th October 2017 | 0 Comments

Michelin has announced its acquisition of Lehigh Technologies, a US-based company that has developed a patented cryogenic turbo mill technology for transforming rubber from end-of-life tyres and industrial goods into materials for new tyres and other products. The acquisition was completed on 13 October.

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Bain Capital building ‘European tyre distribution group’

Bain Capital building ‘European tyre distribution group’

Wednesday 18th October 2017 | 0 Comments

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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Camso buys Stanley Industrial Tires

Monday 16th October 2017 | 0 Comments

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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Kenda buys Starco

Kenda buys Starco

Monday 2nd October 2017 | 0 Comments

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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Bridgestone sells Kingsway to Lodge Tyres

Bridgestone sells Kingsway to Lodge Tyres

Friday 29th September 2017 | 0 Comments

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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Goodyear to acquire Ventech Systems from Grenzebach Maschinenbau

Wednesday 20th September 2017 | 0 Comments

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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Zenises denies Doublestar acquisition rumours

Wednesday 13th September 2017 | 0 Comments

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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New Kumho Tire asking price a chance for Park Sam-koo

Thursday 24th August 2017 | 0 Comments

Kumho Asiana chairman Park Sam-koo may soon be back in the running to acquire a 42.01 per cent stake in Kumho Tire.

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EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business

EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business

Wednesday 23rd August 2017 | 0 Comments

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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Doublestar wants Kumho Tire stake for KRW 800 billion

Doublestar wants Kumho Tire stake for KRW 800 billion

Monday 21st August 2017 | 0 Comments

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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Toyo sells chemical business to Nitta

Monday 14th August 2017 | 0 Comments

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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Uni-Select completes £205 million Parts Alliance purchase

Monday 7th August 2017 | 0 Comments

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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Superior Industries publishes Q2 2017 results, updates outlook

Monday 7th August 2017 | 0 Comments

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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DEKRA expands in Portugal through MasterTest acquisition

DEKRA expands in Portugal through MasterTest acquisition

Thursday 3rd August 2017 | 0 Comments

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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Camso acquires Omni Industrial Tire

Thursday 3rd August 2017 | 0 Comments

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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