Michelin Group has acquired truck tyre supplier Tructyre Fleet Management in a bid to expand its regional presence in the commercial business sector.
The acquisition will see the Tructyre service brand run as part of a strategic alliance with Michelin’s tyre distributor ATS Euromaster, which has 335 service centres across the UK.
Tructyre, which has 26 service centres across the country, said that the deal was part of a business plan aimed at providing a strategic partner to enable further growth and giving founder and MD Glen Sherwood an eventual exit strategy.
Sherwood added: “This strategic alliance brings together two of the leading multi-brand commercial tyre service companies. Both are as committed as ever to delivering an excellent service to their customers.”
Legal advice to Sherwood was provided by Moore Blatch, which has completed more than £500m of corporate transactions over the past 18 months.
Corporate finance advice was provided to Sherwood by Spectrum Corporate Finance.
