London – European Tyres Distribution Ltd, a UK-based company of US investment firm Bain Capital Private Equity, has received the European Commission's approval for the purchase of German tire distributor, Reiff Tyre and Automotive Technology.
The acquired company operates across the wholesale, retail and online value chain via four warehouses and 46 retail outlets. In 2016, it generated sales of around €340 million to more than 285,000 customers.
This is the second investment in tire distribution by private equity firm Bain in 2017. In March, it acquired Fintyre a leading distributor of replacement tires in Italy.
The purchases have been made through European Tyres Distribution, a strategic platform company based in the UK owned by Bain Capital private equity.
The combined revenues of Fintyre and Reiff Tyre and Automotive Technology are expected to exceed €750 million.
European Tyres Distribution has stated that it aims to become “the leading independent tire supplier in Europe in the coming years” through organic growth and further acquisitions.