Shareholders of East Midlands-based Tyre Valve Specialists Ltd have expanded their interests through the acquisition of Middlesex-based Auto 4 Ltd, in a transaction led by Cooper Parry Corporate Finance.
Both companies are leading distributors of tyre accessories and equipment to independent fast fit and tyre repair retailers. The strategic alliance formed between the two companies will widen the geographical spread, deliver significant economies of scale and combine management expertise.
The deal was structured by Cooper Parry’s Sally Saunders who commented: “The acquisition and resulting alliance provides a unique opportunity for both organisations to further grow sales and become major forces in the tyre accessory market.”
Funding for the acquisition was provided by Royal Bank of Scotland, led by Guy Middleton, who added: “This is an exciting opportunity for the dynamic management teams at Tyre Valve Specialists and Auto 4. We are delighted to be supporting their plans for the future“. Duncan James at Berryman Shacklock was legal adviser to the bank.
Legal advice to Tyre Valve Specialists was provided by Roythornes.