Tag: Fintyre

European FinTyre appoints Massimiliano Messina as CFO

European FinTyre appoints Massimiliano Messina as CFO

30th July 2018 | 0 Comments

European FinTyre Distribution Limited (EfTD) has appointed Massimiliano Messina as chief financial officer of the group. Messina role makes him responsible for optimising the financial resources of the group and securing the synergy between its different companies. In addition, he will coordinate the merger and acquisition activity with the support of the management team and will report directly to Mauro Pessi, CEO of the group.

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Fintyre acquisition shows fast-growing firm is ‘doing OK’

Fintyre acquisition shows fast-growing firm is ‘doing OK’

26th June 2018 | 0 Comments

European finTyre Distribution (EFD) has been growing rapidly since its private equity owners Bain Capital backed the acquisition of Italian tyre wholesaler Fintyre back in March 2017. Since then the company has been on the acquisition trail, buying Pneusmarket and Franco Gomma in Italy as well as Reiff and most recently Reifen Krieg in Germany – all in order to build a “European tyre distribution group”. Tyres & Accessories recently spoke with Fintyre managing director Mauro Pessi and asked who’s next and what’s the exit plan?

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European FinTyre Distribution buys Reifen Krieg

European FinTyre Distribution buys Reifen Krieg

14th June 2018 | 0 Comments

European FinTyre Distribution Limited (EfTD), one of the largest Pan European tyre distributors, has agreed to acquire the privately held Reifen Krieg Group, a leading full-range tyre wholesaler in Germany. As a result, EfTD is set to become the market leader in two key European countries, Germany and Italy, with 1.1 billion euros of total revenue. According to EfTD, Reifen Krieg’s current owners, Holger Krieg and Tobias Fink, will continue as the group's managing directors

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Tyre wholesale: acquisition gives Italy’s Fintyre national coverage

17th April 2018 | 0 Comments

Italian tyre wholesaler Fintyre has acquired its regional rival, La Genovese gomme. The European Fintyre Distribution Ltd company has entered into a definitive agreement to purchase the Sardinia-based wholesaler and retailer.

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CEO named for European finTyre Distribution’s German businesses

16th November 2017 | 0 Comments

Following on from last week’s announcement of the respective appointments of Michael Schwöbel und Michael Borchert as chief financial officer and chief commercial officer, London-based platform company European finTyre Distribution has announced the hiring of a new chief executive officer for its recently-acquired operations in Germany. As of 15 November, Claudio Passerini has taken on this role at European finTyre Distribution Germany Holding GmbH, Reiff Reifen und Autotechnik GmbH and tyre1 GmbH & Co. KG.

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European finTyre Distribution appoints new CFO, CCO

10th November 2017 | 0 Comments

At the start of last month, London-based platform company European finTyre Distribution finalised its acquisition of German tyre dealer Reiff Reifen und Autotechnik and its wholesale subsidiary tyre1. The completion of this transaction has now been followed by the naming of a new leadership team for this business. As of 7 November, Michael Schwöbel is the new chief financial officer of European finTyre Distribution Germany Holding. On 15 November, he will be joined by Michael Borchert, who has been appointed chief commercial officer.

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Bain Capital building ‘European tyre distribution group’

Bain Capital building ‘European tyre distribution group’

18th October 2017 | 0 Comments

This year specialist private equity firm Bain Capital has been busy making strategic acquisitions in the European tyre wholesale and retail sectors. First off the company bought Italian tyre wholesaler Fintyre from previous owners Bluegem Capital back in March. Then at the end of June the firm added the German Reiff operation to its portfolio, an acquisition that was subsequently approved by the EC in August. Tyres & Accessories recently interviewed Ivano Sessa, one of Bain Capital Private Equity’s managing directors, and learnt that there are plans for further mergers and acquisitions with a view to creating a “larger tyre distribution group across Europe”.

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EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business

EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business

23rd August 2017 | 0 Comments

A further step towards consolidation within Europe’s tyre wholesaling sector has been taken with the European Commission approving the sale of Reiff Reifen und Autotechnik to US private equity fund Bain Capital Investors LLC. The new owner states its intention to become a regional leader within this business.

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Fintyre platform company acquires Reiff Reifen & Autotechnik

Fintyre platform company acquires Reiff Reifen & Autotechnik

26th June 2017 | 0 Comments

Further consolidation has taken place within the tyre trade, and Germany’s Reiff Reifen und Autotechnik will soon be a sister company to Italian tyre wholesaler Fintyre. London-based platform European Tyres Distribution Ltd., parent company of Fintyre, has entered into a binding agreement with Germany’s Reiff Group to acquire its tyre and car technology business area.

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Bain Capital acquires Fintyre

Bain Capital acquires Fintyre

13th March 2017 | 0 Comments

Italian tyre wholesaler Fintyre has a new owner. Through its Europe IV fund, private equity company Bain Capital has acquired the entire stake controlled by BlueGem Capital Partners. Bain Capital states that it will work together with Fintyre chief executive officer Mauro Pessi and the company’s management in order to further the company’s path of growth towards leadership in the areas of tyre wholesale and retail distribution in Italy in Europe. Existing Fintyre lender Blackstone Group subsidiary GSO Capital Partners will also support the wholesaler’s development plan through a unitranche debt instrument.

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‘Only efficiency will save tyre distributors’ – Top 5 European tyre wholesaler Fintyre

‘Only efficiency will save tyre distributors’ – Top 5 European tyre wholesaler Fintyre

2nd February 2017 | 0 Comments

In response to a contracting market in 2013 and 2014, Italian wholesale giant Fintyre underwent a reorganisation, involving relocation north from Empoli to Seriate, Bergamo and a staff reduction of 60 employees. The overhaul of the company structure did not end there; it started a process in 2015, completed in late 2016, which has changed the face of Fintyre. This, it states, has consolidated its position as the leader of the Italian market with a share of around 25 per cent. In 2015, British investment firm BlueGem Capital Partners, which at that point held a 90 per cent share in Fintyre after its original 2009 investment, was recapitalised following a major financing agreement with GSO Capital Partners. The company then made two major acquisitions – Pneusmarket and Franco Gomme – which have helped to increase turnover from 255 million in 2014 to an estimate of more than 400 million euros in 2016.

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Italy’s Fintyre acquires tyre wholesaler Franco Gomme

Italy’s Fintyre acquires tyre wholesaler Franco Gomme

6th May 2016 | 0 Comments

The recent acquisition of Italian tyre distributor Franco Gomme by the country’s leading aftermarket tyre distributor, the Fintyre Group, is said to have pushed Fintyre into the ‘top five’ of Europe’s independent tyre distributors – the two firms’ combined turnover is expected to exceed €400 million in 2016. Through its acquisition of Franco Gomme, Fintyre aims to enhance its position the Italian market through increased coverage, more widespread distribution and new sales channels.

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Marangoni selling Pneusmarket to Fintyre

Marangoni selling Pneusmarket to Fintyre

4th January 2016 | 0 Comments

Italy’s leading aftermarket tyre distributor, the Fintyre Group, has reached an agreement to acquire the Pneusmarket network from the Marangoni Group. This transaction marks Fintyre’s entry into the tyre retail business.

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