Tag: acquisition
Pirelli: Nokian merger rumours false
Market rumours that Pirelli is considering a €9 billion (£7.7 billion) merger with Finland's Nokian Tyres have been quashed by company spokespeople. Reports that such a deal was on the horizon emerged in mid-January and were then fuelled by re-reporting in the British and Italian press. However, these stories are “without foundation”, according to two Milan-based Pirelli spokespeople that Tyres & Accessories interacted with. Nokian has yet to comment.
Beissbarth acquires API Car Systems
German workshop machinery and equipment manufacturer Beissbarth GmbH has acquired API Car Systems GmbH, a developer of robotic systems for touchless wheel alignment. Stargate Capital, which acquired Beissbarth along with Sicam in 2018, reports that API Car Systems became a Beissbarth company as of 1 January 2020. It will continue as a separate legal entity, with its headquarters remaining in Leipzig, Germany.
Cabot buys Chinese nanotube supplier for $115 million
On 6 January 2020, Cabot China Limited, a wholly owned subsidiary of Cabot Corporation agreed to buy Shenzhen Sanshun Nano New Materials Co., Ltd, a leading carbon nanotube (CNT) producer in China. The $115 million pricetag reportedly includes “liabilities and contingent payments”. According to the company, the move is designed to strengthen Cabot’s position in the high-growth batteries market, particularly in China, which is the largest and fastest growing electric vehicle market in the world.
Private equity firm makes “significant minority investment” in Nexion
Private equity firm One Equity Partners (OEP) reports making a “significant minority investment” in Italian workshop machinery and automotive solutions company Nexion S.p.A. Financial terms of the private transaction have not been disclosed.
USA: Acquisition strengthens Goodyear’s fleet business
The Goodyear Tire & Rubber Company is expanding its company-owned presence in the US Midwest through the purchase of Raben Tire for an undisclosed sum. The Indiana-based company operates several retreading facilities as well as more than 30 tyre and service outlets that cater to fleet and private customers.
FineLine Technologies buys Consolidated Printing Inc.
FineLine Technologies Inc. has acquired Consolidated Printing Inc., a leading provider of printed tickets for professional and collegiate sporting events and major entertainment and event venues throughout the United States. The acquisition marks FineLine’s strategic entry into event management, an industry in which the company can leverage its advanced data management and RFID capabilities to improve complex ticketing processes.
GRI acquires Australia’s Axis Tyres
Sri Lanka’s Global Rubber Industries (GRI Tires) has acquired Australian tyre supplier Tradefaire International’s industrial tyre business, Axis Tyres Pty Ltd. The acquisition includes Axis locations in Melbourne (Altona and Braeside), Sydney and Adelaide. Together with GRI’s existing branch in Brisbane, the company now operates five sites in Australia.
Martins Industries acquires Magnum+
Martins Industries has integrated Magnum+ into its brand portfolio of tyre equipment and products by acquiring M & R Tire Products. According to the company, Magnum+ is a brand of high-precision tyre balancing beads that are described as “a revolutionary alternative to traditional wheel weight balancing”.
Bosch acquiring Unipart’s Autoparts Garage Programmes
Bosch is set to acquire Unipart Group’s (UG) Automotive Aftermarket workshop programmes in the UK. These programmes include the Unipart Car Care Centres (UCCC), a network of independently run garages, the KiS online garage management software, which helps to organise all daily workshop activities, and the Unipartner Consumer App. It is planned for all existing customer contracts to be transferred to Bosch. According to Bosch, “It has been agreed that the purchase price will not be disclosed”.
Mahansaria Tyres comments on EATD acquisition
Commenting on its agreement in principle to buy a majority stake in European Agriculture Tyre Distributor (EATD), Mahansaria Tyres Private Limited (MTPL) states that it intends to build a global, market leading off-highway tyre business. MTPL describes the acquisition as its first step towards building its distribution network in Europe and developing EATD into “a leading" European distributor. EATD has also announced that it will distribute MTPL tyres in Germany, Austria, Switzerland, Belgium, Netherlands, Czech Republic, Slovakia and Poland, along with continuing to act as a distributor for Tianli tyres.
Delticom restructuring – will an investor save the day?
Online tyre distributor Delticom AG has announced a number of measures aimed at returning the company to profitability. These measures already include discontinuing some businesses and may lead to an investor acquiring Delticom or a significant share of the firm.
Tatneft acquires Sibur synthetic rubber plant
Tatneft’s acquisition of Sibur’s petrochemical plant in Togliatti, Russia has been completed. This concludes the process initiated by the signing of an agreement of intent between the two parties at the end of August 2019.`
EATD to distribute Mahansaria off-highway tyres in 8 European markets
EATD recently disclosed plans to bring a new investor on board, and when we spotted Yogesh Mahansaria visiting the distributor’s stand at Agritechnica 2019 the list of potential investor candidates suddenly became a whole lot shorter. Mahansaria is indeed the new investor; EATD confirms that Mahansaria Tyres Private Limited (MTPL) has reached an in-principle agreement to acquire a major stake in the company.
Halfords buys Tyres on the Drive for £746,000
In October Halfords Group bought troubled online tyre retailer Tyres on the Drive for £746,000, but the company had previously valued the business at as much as £150 million.
McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
Halfords Group plc bought McConechy's Tyre Service Limited, the sixth-largest tyre retail business in the UK, on 7 November 2019 for £8.5 million. This makes the newly-expanded Halfords Autocentres the second largest tyre retailer in the UK.