Kings Road Tyres Group management welcome ‘return to independence’
The management of Kings Road Tyres Group (KRTG) has welcomed the well-known wholesaler’s return to private ownership after reaching agreement to conclude its contractual arrangements with the Sailun Jinyu Group.
According to an official statement on the subject, Sailun acquired KRTG in 2014 and worked closely with the group’s UK management to invest in and restructure its wholesale distribution business. Following the successful conclusion of that project, “a policy change in Sailun’s distribution strategy for the UK resulted in the amicable decision to allow KRTG to return to independent ownership and operation”.
Indeed KRTG’s management was quick to highlight the positives: “Working with Sailun Jinyu for three years delivered many positive benefits to the group, including the complete restructuring of our wholesale division into a highly efficient modern tyre distribution business. We are grateful to colleagues who helped us achieve that and other goals but are now thrilled by the prospect of doing what we do best as an independent business,” said managing director Adrian Bader.
Under Bader’s leadership, KRTG has secured investment and backing from London-based specialist finance house ReSolve and co-investor The Bayway Group. This will allow it to return as a highly competitive player in the UK tyre distribution and services sector. In addition to their financial investment, ReSolve will provide professional advisory services and strategic guidance to Adrian and his management team.
Cameron Gunn, senior partner at ReSolve, said: “We are delighted to complete this transaction with the support of our investment partner Ken Browne at The Bayway Group. We are already working with Adrian Bader and his team on the next phase of Kings Road Tyres’ development.”
Adrian Bader commented: “Cameron and his team have shown great commitment and clarity in what is needed for the next stage on our journey and we look forward to a successful, long term relationship with ReSolve.”
KRT to continue commercial, agricultural and industrial tyre focus
Moving forward the company reports that having reviewed its place and presence in the UK market, KRTG will continue to focus on wholesale distribution of specialist commercial, agricultural and industrial tyres, together with bespoke fleet tyre management services delivered by group company Tyre Business Solutions.
Plans are also under development for the launch of a range of new services to utilise Kings Road Tyres’ facilities across its national network of logistics centres in Burton-on-Trent, Hayes, Taunton and Stockton-on-Tees. The Burton hub and its three satellites have a combined floor space of 120,000 sq. ft.
In re-establishing itself as an independent business, KRTG continues to be strongly supported by major tyre manufacturers. It also holds exclusive UK distribution agreements for the Fullrun TBR and passenger car ranges, Taurus, and Speedway agricultural tyres and house brand Kingstone, for implement products and tubes.
“Kings Road Tyres is one of the longest established names in tyre distribution, with an enviable
depth of knowledge and expertise and excellent personal relationships throughout the trade,” said Adrian Bader. “Our new partnership with ReSolve and Ken Browne offers us a tremendous opportunity to move ahead with a clear plan, great ambition and real enthusiasm for the future.”