BA Bush & Son has continued to progress its expansion plans with the acquisition of Rotherham based tyre company Allround Tyres. As the latest part of the tyre distribution and servicing group, BA Bush said the company will continue to offer tyres, exhausts, and batteries as well as vehicle servicing, repairs, diagnostics, and MOTs. Allround Tyres also offers a mobile fitting service to the local area.
Michelin has added the last 60 per cent of leading French tyre e-tailer Allopneus to the 40 per cent stake the leading tyremaker bought in 2015. Michelin now “intends to develop its knowledge of customer behaviour and the purchasing process and thus continue to offer the best possible experience, from online information seeking, right up to tyre fitting”, company representatives wrote in a statement dated 25 August.
At the start of August, Kerr’s Tyres Group, announced it had completed the purchase of Auto Bann. The acquisition of Auto Bann, one of Portadown’s most respected independent garages, means Auto Bann becomes the 13th Kerr’s Tyres & Auto location in Northern Ireland and the first in Portadown. Having entered Tyres & Accessories top 25 UK tyre retailer ranking in May 2021 when the company had 12 branches, the addition of Auto Bann means the chain’s current total of 13 is one step closer to 24th position, which is currently occupied by Elite Garages, with 14 branches.
Bridgestone Americas (Bridgestone) has reached an agreement with tech-focused private equity firm Sumeru Equity Partners, connected vehicle specialist Danlaw and other shareholders to purchase Azuga Holdings, Inc. (Azuga) and the Azuga fleet management platform for US$391 million. Bridgestone says the acquisition will accelerate its efforts to develop and deploy sustainable mobility solutions as a “central pillar of the company’s advanced mobility strategy.”
Hexpol completed the 48 million euro acquisition of 100 per cent of Unión de Industrias C.A., S.A. (Unica) from Espiga Capital, a Spanish based Private Equity firm on 7 July 2021. Unica’s turnover in 2020 amounted to 40 million euros, with a profitability “below Hexpol Group”, according to the business’s new owner. Unica will be consolidated into Hexpol from 1 July.
After a turbulent few years, tyre industry supplier, Nynas AB has changed hands again signing a binding agreement with an investment vehicle managed by Davidson Kempner Capital Management LP for the acquisition of the entire equity stake (49.9%) in Nynas from Bitumina Industries Limited, making it the largest individual shareholder of Nynas.
Skelmersdale headquartered tyre management specialist DTM, which is backed by Palatine Private Equity, has acquired TyreWatch, Europe’s market-leading provider of real-time tyre monitoring technology. Based in Basingstoke, TyreWatch provides digital tyre management services to monitor and manage the wheels and tyres of HGVs and public service vehicles. Established in 2017, it has grown to support clients across the UK, Europe, the Middle East, Africa and Australia.
Wheelwright Limited’s management team recently acquired the company from previous managing director Kevin Greer through a management buyout process. According to the company, “this means that Wheelwright Limited is now owned and operated by the same team of experienced enthusiasts that helped the Kent-based company achieve its existing position as the country’s leading supplier of aftermarket wheels and chassis-related products.”
Cooper Tire has “officially joined the Goodyear team”. That’s how Cooper Tire general manager EMEA, Jaap Van Wessum characterised the takeover of the company by fellow US tyremaker Goodyear, which was completed on 7 June 2021. Van Wessum also offered further details of what Cooper’s integration into Goodyear means for Cooper suppliers and partners.
The Goodyear Tire & Rubber Company has confirmed that it has completed its acquisition of Cooper Tire & Rubber Company, finalizing the merger agreement announced on 22 February 2021. The announcement brought with it one or two more hints of how the synergisation of the two businesses might work.
Mahansaria Tyres Private Limited (MTPL) has made an agreement in-principle with Tyres International Inc (TI) to buy a majority stake in the US-based tyre wholesaler. According to MTPL, the move is the latest part of its bid to build a global, market leading off-Highway tyre business and the first part of MTPL plans to build its distribution network in North America.
Italmatic has announced the acquisition of Roverto, Italy-based Go Energy Srl (previously SD Meccanica), a specialist in the field of tyre manufacturing robotics. The acquisition adds to Italmatic’s status as a global leader in terms of technology and comprehensiveness of the range of machinery and accessories it offers the tyre retreading and repair industries.
On 6 May 2021 Yokohama Europe GmbH, signed an agreement to acquire 100 per cent of Poland’s ITR CEE Spółka z.o.o., a wholesale distributor engaged in the import and sale of Yokohama tyres in central and eastern Europe. The acquisition is scheduled to be concluded on 14 May 2021, after which the Polish company’s name will be changed to Yokohama CEE Spółka z.o.o.
At the end of April, Brembo agreed to buy 100 per cent of J.Juan Group, a Spanish company specialising in the development and production of motorbike braking systems, for 70 million euros. The acquisition is expected to close in the second half of 2021 following regulatory approvals.