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You are here: Home1 / Fintyre

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Springwater Capital increases Fintyre capital, becomes majority shareholder

Company News, International News
Fintyre

Springwater Capital has completed the strengthening of the capital structure of the large Italian tyre distributer Fintyre, reports our Italian sister website PneusNews. The transaction completes the process started in June 2020 with the request for an arrangement with creditors presented by Fintyre to the Court of Brescia after the exit of Bain Capital, the main shareholder.

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Related news:

  1. Springwater injects 43 million euros into Fintyre
  2. Fintyre creditor arrangement approved
  3. Bain Capital acquires Fintyre
  4. European FinTyre Distribution buys Reifen Krieg
29th April 2022/by Andrew

Fintyre creditor arrangement approved

Company News, International News
Fintyre

Fintyre SpA’s creditor arrangement plans were approved by the Court of Brescia on 4 February 2022. The plans filed by Fintyre envisage, among other things, business continuity within the rules of Italian bankruptcy law to the benefit of the company’s approximately 250 employees, according to reports from our Italian sister publication, PneusNews.it.

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Related news:

  1. Springwater injects 43 million euros into Fintyre
  2. Bain Capital acquires Fintyre
  3. European FinTyre Distribution buys Reifen Krieg
  4. Fintyre to open London head office
11th February 2022/by Chris

Springwater injects 43 million euros into Fintyre

Company News, International News
The first months of 2020 marked a difficult time for the company, which worsened due to the Covid-19 pandemicFintyre

Springwater Capital has been confirmed as Italian tyre wholesaler Fintyre’s new shareholder, bringing with it 43 million euros of new capital – a figure that is in-line with reports suggesting Springwater’s involvement back in November 2020. Springwater Capital, founded in 2002 and led by managing partner Martin Gruschka, specializes in the turnaround of European Mid-Caps with a long-term investment horizon.

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Related news:

  1. European FinTyre Distribution buys Reifen Krieg
  2. Fintyre to open London head office
  3. Restructuring announced as Fintyre Group misses January wages
  4. Fintyre initiates debt restructuring programme
11th June 2021/by Chris

Fintyre submits settlement plan

Company News, International News
The first months of 2020 marked a difficult time for the company, which worsened due to the Covid-19 pandemicFintyre

Roughly a year after its German operations collapsed, late in the evening of Friday 12 February, the Italian parent company Fintyre filed a settlement plan with local courts. According to the Italian members of our international publishing group, Pneusnews.it, it is a decisive step for the company from Seriate, in the province of Bergamo.

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Related news:

  1. ‘Only efficiency will save tyre distributors’ – Top 5 European tyre wholesaler Fintyre
  2. Fintyre initiates debt restructuring programme
  3. Marangoni selling Pneusmarket to Fintyre
  4. Fintyre now sole Italy distributor for Triangle tyres
15th February 2021/by Chris

The top tyre stories of 2020

Company News, Editorial/Comment, International News, UK News

Even for the best forward-planners, 2020 was a year of surprises. And while the word “unprecedented” has been worn out during the last 12 months, it is difficult to find another more appropriate term. With everything from business closures, to a global pandemic (and with the pandemic resulting in lockdowns, factory closures and spikes in online and mobile tyre business), there certainly has been a lot going on. That’s why in January we crunched the numbers relating to our website traffic in order to find our what exactly were the top 10 stories of 2020.

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Related news:

  1. Michelin temporarily closes some European factories, car tyre demand down 9%
  2. Green restart: Retreaded tyres as a decarbonisation aide
  3. Tyre demand declining 15 to 26 per cent in 2020
  4. Some Fintyre companies operating again in Germany
22nd January 2021/by Chris

Fintyre bidder Springwater’s offer includes 50 million euro capital increase

Company News, International News

The Springwater Capital financial group has made a binding offer for Fintyre, which is currently controlled by Bain Capital. No details have officially been released, but some Italian news sources are reporting that the Springwater offer includes a capital increase of 50 million euros. The company has been in talks with potential new investors since May.

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Related news:

  1. European FinTyre Distribution buys Reifen Krieg
  2. EfTD rebrands as Fintyre Group
  3. Fintyre acquisition shows fast-growing firm is ‘doing OK’
  4. FinTyre buys RS Exclusiv Reifengrosshandel and TyreXpert Reifen + Autoservice
26th November 2020/by Chris

Cooper appoints Fintyre as an exclusive distributor in Italy

International News
Cooper

Cooper Tire Europe has appointed Fintyre as the exclusive distributor of its light vehicle tyres to the Italian market. Under the deal, Cooper will supply passenger car, SUV (sport utility vehicle) and van tires through Fintyre. By joining forces with Fintyre, Cooper will enhance its supply chain in this key European market.

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Related news:

  1. Avon launches ZZ5, UHP successor to ZZ3
  2. ‘Only efficiency will save tyre distributors’ – Top 5 European tyre wholesaler Fintyre
  3. Fintyre now sole Italy distributor for Triangle tyres
  4. Fintyre wins Milan public transport tender
2nd September 2020/by Chris

Tyroo GmbH rises from the ashes of Reifen Krieg

International News
Tyroo

Anyone wanting to know how Reifen Krieg founders Holger Krieg and Tobias Fink would react to the bankruptcy of the tyre wholesaler they founded in 2007 and then sold to the Fintyre Group in 2018 no longer needs to wait. They have founded Tyroo GmbH in Neuhof, Germany.

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Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business
  3. Fintyre to open London head office
  4. Search for Fintyre investor begins as employees receive insolvency benefits
13th July 2020/by Chris

Fintyre initiates debt restructuring programme

Company News, International News
The first months of 2020 marked a difficult time for the company, which worsened due to the Covid-19 pandemicFintyre

On 15 June 2020 Italian tyre distributor Fintyre filed an application for admission into a debt restructuring arrangement with creditors to preserve “business continuity and better safeguard the interests of its creditors and of all the subjects who, for various reasons, have relationships with Fintyre”, according to our Italian group publication PneusNews.it. Related businesses Franco Gomme and Tire Retail (Pneusmarket) are not part of the arrangement.

Read more

Related news:

  1. ‘Only efficiency will save tyre distributors’ – Top 5 European tyre wholesaler Fintyre
  2. European FinTyre Distribution buys Reifen Krieg
  3. Fintyre to open London head office
  4. Restructuring announced as Fintyre Group misses January wages
18th June 2020/by Chris

Fintyre in talks with “potential new investors”

News

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”.

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Related news:

  1. European FinTyre Distribution buys Reifen Krieg
  2. Fintyre platform company acquires Reiff Reifen & Autotechnik
  3. Fintyre to open London head office
  4. EfTD rebrands as Fintyre Group
27th May 2020/by Chris

Buyers found for 2 more Fintyre businesses in Germany

International News

A week ago, Bridgestone announced its acquisition of 42 Reiff Reifen und Autotechnik retail outlets in Germany from the now-bankrupt Fintyre Group business. The insolvency administrator handling the Fintyre case reports that buyers have also been found for two further Fintyre businesses, Duro Reifenservice GmbH and Reifen24 GmbH.

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Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. End of the line for German tyre wholesaler RS Exclusiv
  3. Some Fintyre companies operating again in Germany
  4. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
11th May 2020/by Stephen

Bridgestone acquires former Fintyre Germany tyre trade group Reiff

Company News, Retreading
Reiff

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.

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Related news:

  1. Fintyre platform company acquires Reiff Reifen & Autotechnik
  2. Bridgestone sells Kingsway to Lodge Tyres
  3. European FinTyre Distribution buys Reifen Krieg
  4. Fintyre Group employee pay ‘coming’, restarting business operations a priority
4th May 2020/by Andrew

End of the line for German tyre wholesaler RS Exclusiv

International News

Some ten weeks ago, German tyre wholesaler RS Exclusiv Reifengroßhandel GmbH entered insolvency as part of the Fintyre Group’s operations in Germany. It now seems that the company’s days are numbered. The insolvency administrator’s office confirmed the sale of RS Exclusiv’s headquarters site north of Hamburg to our German partner magazine, Neue Reifenzeitung. The wholesaler has quarter of a year to pack its things and go. But the insolvency administrator also reports another, more cogent reason for winding up the business.

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Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. Search for Fintyre investor begins as employees receive insolvency benefits
  3. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  4. Buyers found for 2 more Fintyre businesses in Germany
28th April 2020/by Stephen

Insolvency proceedings begin for 7 Fintyre Group companies in Germany

Company News, International News

Insolvency proceedings begin for 7 Fintyre Group companies in Germany

Read more

Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. Search for Fintyre investor begins as employees receive insolvency benefits
  3. Some Fintyre companies operating again in Germany
  4. Fintyre’s insolvent businesses: All unpaid employees now receiving benefits
2nd April 2020/by Stephen

Fintyre insolvency: Investors look at companies

International News

According to Sebastian Brunner, spokesman for the provisional insolvency administrator handling the Fintyre Group case, a number of parties have already expressed interest in acquiring individual companies belonging to Fintyre’s insolvent German operations. These potential investors have already inspected the companies in question or will do so in the near future. “We hope to already have binding offers on the table in April and then be able to enter into negotiations,” said Brunner.

Read more

Related news:

  1. Fintyre insolvency: New month, no pay
  2. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  3. End of the line for German tyre wholesaler RS Exclusiv
  4. Buyers found for 2 more Fintyre businesses in Germany
31st March 2020/by Stephen
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