Tag: acquisition

Cemb buys M&B Engineering

Cemb buys M&B Engineering

16th July 2019 | 0 Comments

On 2 July Cemb S.p.A., the leading balancing machines and vibration analysis systems manufacturer, announced that it had acquired M&B Engineering, an important player in garage equipment production. Cemb reports that it is beginning “the internal production of tyre changers” as a result of the purchase. None of the financial details associated with the transaction have yet been revealed.

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Continental acquires R&J Strang

Continental acquires R&J Strang

9th July 2019 | 0 Comments

Continental Tyre Group has acquired Scottish commercial fleet servicing company R&J Strang Tyre Services Ltd. The company stated that the latest acquisition represents a further step to strengthen its overall commercial fleet service offering across the UK and Ireland.

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Autosupplies Group to acquire Leisureways UK Ltd

Autosupplies Group to acquire Leisureways UK Ltd

8th July 2019 | 0 Comments

Autosupplies Group, comprising leading motor factors Autosupplies (Chesterfield) and Butlers Automotive, has entered into an agreement to purchase Leisureways UK Ltd of Rotherham.

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Synthomer acquisition values Omnova at £654 million

8th July 2019 | 0 Comments

Essex-based Synthomer plc, one of the world's major suppliers of aqueous polymers, has agreed to buy Omnova Solutions Inc., which develops, manufactures and markets polymers, dispersions, elastomers and other speciality chemicals, at a price of US$10.15 per Omnova share. The acquisition values Omnova's entire issued and to be issued share capital at US$473 million (approximately £375 million), with an implied enterprise value of US$824 million (approximately £654 million). The move is now subject to regulatory approval. This is expected to complete in the fourth quarter of 2019 or the first quarter of 2020.

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Hexpol buys Preferred Compounding for $232 million

8th July 2019 | 0 Comments

On 1 July Hexpol announced that it has acquired Preferred Compounding from the Audax Group, a US-based Private Equity firm. Preferred Compounding is described as an “advanced rubber compounder in North America”. Key markets include general industry, automotive, power and infrastructure. Hexpol paid approximately US$232 million on a cash and debt free basis. Preferred’s 208 turnover worked out as roughly US$240 million. The firm has around 540 employees in six facilities, five in the US and one in Mexico. The business will be consolidated from 1 July 2019.

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Reports: Brembo aiming for largescale acquisition

28th June 2019 | 0 Comments

Brembo is lining up a “significant size” acquisition, even as large as the brake maker itself. Local newspaper Il Sole 24 Ore quoted Brembo executive vice-president matteo tiraboschi as saying that the company is looking for potential targets outside Italy, especially in Europe and the US and even China: "It must a healthy company of a certain size - with good numbers, technology and R&D - that fits our business”.

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Michelin now 99.64% owner of Multistrada

Michelin now 99.64% owner of Multistrada

21st June 2019 | 0 Comments

Following a successful public offer, Michelin now holds a 99.64 per cent shareholding in Indonesian tyre maker PT Multistrada Arah Sarana TBK. After acquiring an 87.59 per cent share of Multistrada on 8 March, Michelin launched a public offer for the remaining outstanding shares, at the same price per share as previously offered. The transaction enabled Michelin to acquire an additional 12.05 per cent in the company.

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Autodata acquires AutoMate Training

Autodata acquires AutoMate Training

3rd June 2019 | 0 Comments

Autodata Publishing Group Limited, a Solera Holdings, Inc. group company, has confirmed the acquisition of AutoMate Training Pty. Ltd, the automotive industry’s foremost provider of online technical training and professional development platforms.

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Doublestar acquires Hengyu Technology

Doublestar acquires Hengyu Technology

31st May 2019 | 0 Comments

Qingdao Doublestar Tire, owner of Kumho Tire since July 2018, has once again grown through an acquisition. The Chinese tyre maker says it has completed the purchase of Shandong Hengyu Technology Co., Ltd. for RMB 899 million (£103.1 million). Doublestar disclosed in March that it had signed an agreement with Hengyu Technology’s administrator to acquire 100 per cent equity in the business.

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TomTom shareholders set for 750 million-euro windfall

16th May 2019 | 0 Comments

TomTom is set to return roughly 750 million euros to its shareholders after the sale of TomTom Telematics to Bridgestone for 910 million euros closed in April 2019. According to the company, TomTom will return the money on 27 May, through a consolidation of shares. Telecom Paper reported that for every 16 shares, nine will remain, resulting in the repayment of 5.74 euros per remaining share. This is said to be equivalent to 3.22 euros per share, based on the number of outstanding shares before consolidation.

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Michelin buys Masternaut

Michelin buys Masternaut

16th May 2019 | 0 Comments

Michelin has agreed to buy the entire share capital of Masternaut, one of the largest European telematics providers, for an undisclosed amount. While not price details have been released, according to the company, the transaction has been made on the basis of eight-times 2018 EBITDA before synergies. Masternaut will continue to operate under its own brand as a fully-owned subsidiary within Michelin, and the transaction is expected to close within the next sixty days.

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FinTyre completes Rs Exclusivreifengrosshandel and Tyrexpert Reifen + Autoservice acquisition

10th May 2019 | 0 Comments

Following the announcement made on 28 December 2018, on 10 May 2019, European FinTyre Distribution (EfTD) announced that it has completed the acquisition of 100 per cent of German tyre firms Rs ExclusivReifengrosshandel GmbH and Tyrexpert Reifen+Autoservice GmbH.

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Further automotive acquisitions for GFG Alliance

29th April 2019 | 0 Comments

Sanjeev Gupta’s GFG Alliance has further consolidated its presence in the automotive sector by acquiring two vehicle components suppliers in France. Through its Liberty industrial business, GFG has become the owner of Lyon-based Saint Jean Industries Poitou and Poitiers-based Fonderie du Poitou Fonte.

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Excel Automotive Group under new ownership

Excel Automotive Group under new ownership

16th April 2019 | 0 Comments

Excel Automotive Group (EAG) has been acquired by Tony Bhogal, owner of Sancorp Ltd and managing director ofAutoelectro, in partnership with son, Harry, from TVS Motor Group Ltd (Universal Components Ltd). The new owners have appointed Adrian Lamb managing director of EAG, while Harry Bhogal will be responsible for  the company's day-to-day operations.

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Genan acquires BioSafe tyre recycling plant

Genan acquires BioSafe tyre recycling plant

3rd April 2019 | 0 Comments

Denmark-based end of life tyre recycler Genan Holding and Portuguese transport and construction equipment solutions provider Nors have signed a definite agreement for Genan to acquire Nors’ subsidiary, BioSafe – Indústria de Reciclagens, S.A., operator of Portugal’s largest tyre recycling plant. The transaction is expected to close at the end of this month, adding a sixth tyre recycling plant to Genan’s global footprint.

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