Tag: tyre wholesale
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.
UK’s ballooning UHP tyre market a huge opportunity for Inter-Sprint
A giant amongst tyre distributors on the other side of the Channel, Inter-Sprint’s business in the UK is currently low-key. Yet the company sees good growth potential here and is well-positioned to capitalise on this. We recently spoke with Inter-Sprint’s Jon Oram to find out more.
Fintyre acquisition shows fast-growing firm is ‘doing OK’
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?
Stamford shows Thailand and Vietnam-produced tyres in Cologne
Contract tyre supplier Firenza showcased five of the firm’s most popular ranges from car through to truck tyres.
TireHub to start operations in July
The Goodyear Tire & Rubber Company (Goodyear) and Bridgestone Americas, Inc. (Bridgestone)’s TireHub LLC joint venture in passenger and light truck tyre distribution, will begin serving customers the first week of July. The joint venture received clearance from all required regulatory authorities earlier in June, enabling the creation of one of the largest national tyre distributors in the United States. The transaction is expected to close at the end of June.
European FinTyre Distribution buys Reifen Krieg
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