Tructyre Fleet Management buys PK Commercial
Tructyre Fleet Management has nearly doubled its size following the strategic acquisition of one of its competitors, the PK Commercial group of companies. Based just off the M3 near Winnall in Winchester, Trucktyre Fleet Management manages and maintains tyres on large commercial fleets of trucks and vehicles for customers such as large supermarkets, hauliers and other transport companies, principally covering the south coast up to the M4 and London and Weymouth to Portsmouth.
The PK Commercial group of companies have similar activities in Kent, Sussex and Surrey, providing Tructyre with the capacity to service all its customers’ requirements along the length of the south coast. This includes the main arterial routes from the leading south coast ports into London and the M25 as well as Heathrow and Gatwick airports. The combined turnover of the group will be in excess of £25 million and the acquisition will also open up the opportunity for Tructyre to get involved in both the retail and commercial markets.
The acquisition was supported by the corporate team at Coffin Mew Solicitors led by Amanda Brockwell, who worked with Glenn Sherwood, the managing director of Tructyre to conclude the deal. Amanda said: “We were delighted to be part of the deal which has given Tructyre a considerable share of this market – placing the company in a unique position that enhances their products and services to its all-important customer base whilst allowing them to grow their offering now and into the future”.
Glenn Sherwood said: “We were delighted that Amanda and the team were able to work with us in securing this very important deal. Amanda was instrumental in the buyout of Tructyre in 2006 when it went alone after Tony Todd, MD of Micheldever Tyres, sold to Graphite Group in February 2006, so it seemed fitting to continue our partnership in another business milestone for Tructyre.”