Tag: mergers and acquisitions

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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ZF signs definitive agreement to acquire WABCO

ZF signs definitive agreement to acquire WABCO

28th March 2019 | 0 Comments

ZF Friedrichshafen AG, a leading global technology group and supplier of mobility systems for passenger cars, commercial vehicles and industrial technology, has announced that it has entered into a definitive agreement to acquire WABCO for $136.50 per share. The planned acquisition has been approved by ZF’s management board and supervisory board and WABCO’s board of directors. Together, ZF and WABCO will form a leading global integrated mobility systems provider for commercial vehicles, creating added value for ZF’s commercial vehicle customers. The combined company will have sales of approximately €40 billion.

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Sainsbury’s, Asda and truck tyre tariffs

Sainsbury’s, Asda and truck tyre tariffs

12th June 2018 | 0 Comments

At the end of April the UK’s second largest supermarket Sainsbury’s announced that it is merging with the Walmart-owned Asda supermarket. The goal? To push first-placed Tesco off the top-spot and to give the newly combined chain better access to different geographic areas and consumers. Strange as it may seem at first glance, this story can be read across to the tyre market in general and the truck tyre segment in particular (click here for complete coverage on developments associated with the recently initiated European anti-Chinese truck tyre import tariffs).

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Accuride’s acquisition of Mefro Wheels gains conditional approval

4th May 2018 | 0 Comments

Consolidation within Europe’s commercial vehicle steel wheel market is coming, but three will remain the magic number when it comes to suppliers. Some ten months after the proposed deal was first announced, the European Commission has granted its conditional blessing for Accuride Corporation to acquire steel wheel manufacturer Mefro Wheels GmbH.

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It’s M&A season

It’s M&A season

6th January 2017 | 0 Comments

New year. New diary. New balance sheet. New company? In this respect, 2016 got off to a flying start. No sooner had the year begun than we received news of some high profile, three-digit-million pound mergers and acquisitions. The first and the largest was the acquisition of well-known garage data supplier Autodata (see page 32, Company New section for complete details). However, within 24 hours this was followed by the potentially UK tyre wholesale and retail-changing announcement that Sumitomo Rubber Industries had acquired Micheldever Tyre Services.

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The Parts Alliance acquires motor factor Waterloo (Motor Trade) Ltd

The Parts Alliance acquires motor factor Waterloo (Motor Trade) Ltd

3rd January 2017 | 0 Comments

HgCapital-owned Parts Alliance Group has acquired Waterloo (Motor Trade) Ltd. The company will continue to trade under its own name, serving customers in the East Riding of Yorkshire, with branches in Hull, Beverley and Bridlington. Waterloo was founded in 1928 by current managing director Jim Munday’s grandfather.

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Nokian Tyres adds VP strategy to management team

18th May 2016 | 0 Comments

Timo Tervolin has been appointed as vice president, strategy and corporate development and a member of Nokian Tyres' management team. According to the company, his responsibilities will include leading Nokian’s strategy process and strategic programmes, mergers and acquisitions, and monitoring markets and competition.

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Trelleborg acquires Mitas parent company, CGS Holding

Trelleborg acquires Mitas parent company, CGS Holding

9th November 2015 | 0 Comments

Trelleborg has signed an agreement to acquire the Czech Republic’s CGS Holding a.s. for approximately 10.9 billion Swedish Krona (£830 million) on a cash and debt-free basis. The privately-owned company is active in the agricultural and specialty tyre business segments, including the strong Mitas tyre brand, as well as engineered polymer solutions. Closing of the transaction is subject to approvals from relevant competition authorities and is expected to be completed in the first half of 2016.

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Auto Windshields completes AA AutoWindshields acquisition

5th October 2015 | 2 Comments

Eight weeks to the day, Auto Windscreens (part of the Markerstudy Group of Companies) has today (1st October) confirmed that the deal to purchase AA AutoWindshields has completed. With no time to lose to ensure the full integration of 200 staff and technicians, this is cited as a phenomenally successful exercise in communication and collaboration by the Sunday Times Best Companies Top 100 listed organisation.

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Millbrook’s Test World acquisition followed ‘strategic collaboration’

24th September 2015 | 0 Comments

The formal agreement to acquire Test World was preceded by the establishment of a “strategic collaboration” between Millbrook and the Finnish facility in June 2015. The collaboration was announced at Automotive Testing Expo Europe 2015, in Stuttgart which ran from 16 - 18 June. There the growing partnership between the two companies could be seen in their adjoining exhibition stands designed to demonstrate the range of facilities and services the two businesses can offer.

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GSF Car Parts merges with Parts Alliance

GSF Car Parts merges with Parts Alliance

21st September 2015 | 0 Comments

75 GSF Car Parts (GSF) branches have merged with The Parts Alliance, taking the network to well over 300. 160 of these are under common ownership. Together they give the Solihull-based business group increased coverage in the UK and Ireland.

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Pirelli and ChemChina agree closing date, triggering mandatory tender offer

5th August 2015 | 0 Comments

CNRC (ChemChina), Camfin and its shareholders have announced that all the necessary antitrust and regulatory approvals for ChemChina’s purchase of the majority of Pirelli (as announced on 22 March 2015) have been obtained. Therefore the aforementioned parties have agreed to complete the transaction on 11 August 2015. As a result, the pre-announced mandatory tender offer for the remaining shares (at 15 euros each) will be triggered.

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MAM buys Origin Software Solutions

MAM buys Origin Software Solutions

6th July 2015 | 0 Comments

MAM Software has announced the acquisition of Origin Software Solutions Ltd ("Origin"), a UK-based provider of e-commerce solutions for the automotive aftermarket.

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Consolidation now

1st June 2015 | 0 Comments

A couple of months ago we discussed the “restructuring” of relatively large and modern Chinese manufacturer Deruibao Tire. Back then, Qingdao Doublestar was top of the list of firms connected with an acquisition/cooperation/merger rescue orchestrated by the local government. A month later government-owned ChemChina announced that it was buying Pirelli. This latter point has been covered in some depth in the pages of Tyres & Accessories, especially in our April edition. The Pirelli/ChemChina story will no-doubt garner more attention as the very complex outworkings of the deal are walked out, but what remains of interest is the way in which both the local Chinese market and the global industry are engaged in a period of both parallel and inter-connected consolidation.

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Michelin to capitalise on Blackcircles.com, ATS Euromaster ‘synergies’

Michelin to capitalise on Blackcircles.com, ATS Euromaster ‘synergies’

7th May 2015 | 0 Comments

Michelin chief operating officer, Florent Menegaux told Tyres & Accessories that the manufacturer would promote synergies with ATS Euromaster following its acquisition of Blackcircles.com. Speaking to Tyrepress following the announcement of its £50 million purchase, Michelin’s chief operating officer said that the UK’s biggest online tyre retail operation would gain “access to ATS Euromaster branches in the UK”, which numbered 343 in the recent T&A survey of the retail landscape.

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