Netherlands-based tyre wholesaler Heuver has grown through its acquisition of the Bevri Groep, a wholesaler from Zeewolde in central Netherlands. Heuver will operate the two Bevri businesses, Bevri Banden (Bevri Tyres) and Bevri Wheels, as an independent company within the Heuver Group, retaining a separate corporate identity. The wholesaler says that by combining the strengths of both companies, it can now “offer an even more complete range” of tyres and wheels.
Nokian Tyres has sold its Vianor US business to Oregon-based Point S member Gills Point S Tire. The transaction covers ten Vianor service centres, with all current Vianor US service centre employees will be taken on by Gills Point S Tire & Auto Service.
Mahansaria Tyres Private Ltd (MTPL) has completed the previously announced acquisition of a majority stake in European Agriculture Tyre Distributor (EATD). As a result, EATD has relocated its operations from Strijen, The Netherlands, to Wallenhorst in Germany.
McConechys Tyre Service, which was bought by Halfords last year, is migrating its website to the Halfords.com portal. At the same time as making the website migration announcement, company representatives revealed: “All of the [49 form McConechy’s] garages have been trained to provide the same services that would be expected at a Halfords Autocentre, including both on demand and bookable services.
Rockwell Automation has announced the introduction of its VersaView 6300 family of Allen-Bradley Industrial Computers, which will be available starting August 2020. The launch of the VersaView 6300 family follows the May 2020 acquisition of ASEM S.p.A. and represents an extension of the company’s capability for industrial PCs (IPC), human machine interface (HMI) and secure Industrial IoT remote access solutions.
Bridgestone has bought iTrack, which provides tyre management solutions for the off-the-road (OTR) market, from UK-based Transense Technologies Plc. All employees of the iTrack Solutions business will join Bridgestone as part of the acquisition. No financial details have been released.
Following news that Exide Technologies entered Chapter 11 bankruptcy protection on 19 May 2020, Exide has been bought by long-term lenders who have injected cash, but remains up for sale until the end of July. Specifically, the new owners of Exide EMEA and Asia-Pacific are subject to conditions outlined in the transaction document to “maintain continued employment of the company’s workforce in these regions”. For example, as part of the agreement, the ad hoc lender group has provided additional liquidity of up to $75 million. The agreement also includes a “go-shop” period with a bid submission deadline and auction to be held in early July 2020.
On 19 May battery manufacturer Exide Technologies entered chapter 11 bankruptcy protection, announcing “a comprehensive strategy to best position its businesses in North America, EMEA, and Asia-Pacific to benefit its employees, customers, suppliers, and other stakeholders across the globe.” In short, the strategy puts the Exide’s US business in chapter 11 and sells the Europe Middle East and Africa (EMEA) to the firm’s long-term lenders.
Fintyre, the large but troubled European tyre distribution enterprise, has confirmed that it is talking to “potential new investors” in a statement designed to clarify its ongoing position “given the events that have taken place in the last few months”.
Workshop and vehicle testing equipment company MAHA Maschinenbau Haldenwang GmbH Co. & KG has acquired a 100 per cent shareholding in ATT, the joint venture workshop equipment company founded in 2000 by Robert-Bosch GmbG and the Nussbaum Group. The change of ownership took place on 30 April.
Bridgestone has acquired German specialist tyre trade group, Reiff Reifen und Autotechnik GmbH. The company, part of the collapsed Fintyre Germany group, includes the Reiff, Netto and ABS brands. Reiff runs a network of 42 retail stores in the south of Germany, as well as a tyre retreading plant, all of which are part of the acquisition deal. It has more than 500 employees.
Warburg Pincus is now a shareholder in Apollo Tyres Ltd. During a meeting yesterday, the tyre maker’s Committee of Directors – Private Placement allocated Emerald Sage Investment Ltd., an affiliate of the private equity firm, 54,000,000 compulsorily convertible preference shares. Emerald Sage paid a total of Rs s. 5,400,000,000 (£57.56 million) for the shares in this first tranche transaction, or Rs 100 each.
The Competition Commission of India (CCI) has approved Warburg Pincus’ indirect acquisition of a 9.93 per cent stake in Apollo Tyres Limited. The purchase of 108,000,000 compulsorily convertible preference shares in the tyre maker, each share worth Rs 100, is being carried out by Emerald Sage Investment Limited. This transaction is worth approximately Rs 10.8 billion (£114 million).
Michelin is entering into a partnership with Swedish firm Scandinavian Enviro Systems (Enviro) to develop and industrialise on a large scale pyrolysis technology to recycle end of life tyres into raw materials. The two companies signed a shareholding subscription today that will see a subsidiary of the tyre maker, Michelin Ventures SAS, acquire a 20 per cent stake in Enviro.
Halfords
Rockwell Automation
Bridgestone
Exide Technologies
Reiff