Tag: tyre wholesale
Deldo doubles warehouse capacity
The year has started well for Deldo Autobanden – the Belgium-based tyre wholesaler says its new warehouse in the Port of Antwerp is now finished and operational, and the facility’s entry into service has effectively doubled stock capacity to more than 2 million tyres. According to Deldo, this added capacity is aiding an expansion of its premium as well as budget segment ranges and offers customers throughout Europe an enhanced ‘just-in-time’ service.
FinTyre buys RS Exclusiv Reifengrosshandel and TyreXpert Reifen + Autoservice
European FinTyre Distribution (EfTD) has signed a binding agreement to acquire two key players in the German tyre market: RS Exclusiv Reifengrosshandel GmbH and TyreXpert Reifen + Autoservice GmbH. As a result of the acquisition EfTD now has a total turnover of 740 million euros in Germany and project annual unit sales of 8.5 million tyres.
Traxx Tyres hosts dealer conference
At the end of November Traxx Tyres held its inaugural Independent Dealer Conference will the aim of creating a “dynamic forum for presentations by suppliers and experts on new tyre products, technology and digital marketing innovations in the tyre industry, as well as creating a valuable networking opportunity for attendees”.
Fintyre to open London head office
The last couple of years have been something of a whirlwind for the European Fintyre Distribution project, which has seen the business grow from a key player in the Italian market into a wider European operation with aspirations of being the leading force in pan-European tyre distribution and perhaps even beyond. Tyres & Accessories recently met with European Fintyre chief executive officer Mauro Pessi in order find out more about the company’s decision to base its central headquarters in London as well as its general, ongoing growth.
Pon selling tyre wholesale business – new owner for GAC
Netherlands-based transportation sector firm Pon Holdings announced yesterday its intention to divest Gundlach Automotive Corporation (GAC) at the end of this year to private equity investor Gilde Buy Out Partners. The business will thereafter operate as an independent company.
ATD ‘making significant progress’
American Tire Distributors, Inc. (ATD) has written to customers saying that the company is making “making significant progress with [its] recapitalization process” in a letter published on the firm’s recapitalisation website on 28 October 2018. According to the company, the steps taken “will strengthen our financial position as we continue our successful, game-changing transformation. We have a clear roadmap for the next steps in this process and the support of our key financial stakeholders has us on track to emerge by the end of the year as a stronger company with less debt that is even better positioned to serve our customers.”
Bain Capital buys US distributor Dealer Tire
The private equity firm building up a European tyre distribution group through its acquisition of firms such as Fintyre and Reiff has made a significant investment in North America. Bain Capital reports its acquisition of a majority shareholding in US-based aftermarket tyre and parts distributor Dealer Tire, LLC. The interests of Lindsay Goldberg LLC, Dealer Tire’s investment partner since December 2014, will be acquired by Bain Capital Private Equity. The transaction is expected to close by December.
Will Amazon buy ATD?
October has been a tumultuous month for US tyre distribution. First ATD filed for Chapter 11 during the first week of the month. Then, less than two week’s later Sears, which includes Sears Autocentres (itself one just two major tyre installation partners for Amazon), also applied for bankruptcy protection. Now market analysts are asking if Amazon is planning to buy ATD.
ATD enter bankruptcy proceedings
A month after its credit rating was downgraded, American Tire Distributors, Inc. (ATD), the largest tyre wholesaler not only in the USA, but in the entire NAFTA region, filed for Chapter 11 bankruptcy protection in the District of Delaware on 4 October. At the time, the company announced that it had entered into a definitive agreement with approximately 75 per cent of its bondholders on the terms of a recapitalization that would reduce the company's debt by approximately $1.1 billion and increase its financial flexibility as it continues its ongoing transformation
ATL developing a tyre industry specialism
Following the news that logistics service provider ATL officially opened a new ‘ATL Midlands Hub’ in Foston on 6 September 2018, Tyres & Accessories reflects on the company’s strategic decision to move towards the tyre industry. As we have already seen, before Jon Ward Joined ATL in April 2018, he previously worked as managing director for two major automotive companies, including one of ATL’s customers – Mitas Tyres. During his time at Mitas, Ward reportedly doubled turnover in three years, whilst increasing profit and encouraging a cohesive team culture.
ATL opens ‘ATL midlands hub’
Logistic service provider ATL officially opened ‘ATL Midlands Hub’ in Foston on 6 September 2018 to celebrate its recently built high-spec distribution centre and office facility. To commemorate the opening, the Rt Hon Greg Clark MP, Secretary of State for Business, Energy and Industrial Strategy, officially opened the 35,000 pallet distribution centre and offices, in attendance of over 100 local dignitaries, suppliers and customers.
Van den Ban acquires Swedish tyre wholesaler Amring
Dutch tyre wholesaler the Van den Ban Group has bought Sweden’s Amring AB. The Gothenburg-based tyre and wheel wholesaler and retailer had belonged to Pon Tyre Group since 2008. With this acquisition, Van den Ban increases its presence in Scandinavia. Further details regarding the transaction are not known at this stage
T.T.I. futureproofing with continued growth, new products
As far as years go, 2017 was a special one for Tyre Trading International (T.T.I.). Early on in the piece it delivered growth through the acquisition of Van Aalderen Twen-Tyre, it then witnessed expansion with Reifen Kraftwerk and was rounded off by organisational restructuring following the sale of the company’s Motoria business. T.T.I.’s owner Peter-Alexander van ’t Hof sees last year’s changes as a “big step” for the wholesaler, and 2018 is also looking to be a red-letter year.
Interpneu looking to grow in Europe
When visiting the team at Interpneu during The Tire Cologne, we assumed they’d talk about business at home in Germany. We were wrong – the wholesaler shared a strong interest in expanding its operations in the UK and in northern Europe. Plans to do this are already in place.
Wholesale acquisition: Hankook Tire buys Reifen Müller
Another tyre wholesaler in Germany is now in manufacturer hands. Hankook Tire has announced the 100 per cent equity purchase of independent wholesaler and retailer Reifen Müller. The acquisition gives Hankook Tire ownership of Reifen Müller’s sales distribution affiliate company, Reifen Müller KG, its 44 retail service outlets and the Reifen Müller GmbH & Co. Runderneuerungswerk KG retreading business.