Lille, France – Groupe Michelin and Mobivia PLC, a European multi-brand vehicle servicing and parts distributor, have agreed to work together to support the development of Auto-Teile-Unger (ATU), a Mobivia business active in Germany, Austria and Switzerland.
As part of the deal, Michelin has purchased a 20% ownership stake in ATU, the Weiden, Germany-based distributor that Mobivia acquired in December 2016.
ATU operates 577 auto service centers in Germany, 25 in Austria and 6 in Switzerland, generating more than $1.1 billion (€889,000) in revenue annually from the sale of parts and services, including tires, wheels and related services.
Michelin paid $67.5 million for its minority share. Mobivia retains the 80% majority share.
Lille-based Mobivia is considered the largest auto maintenance and repair chain in Europe, with more than 2,030 workshops and retail outlets, more than 20,000 employees and annual revenue of $3 billion.
Besides ATU, Mobivia's retail brands include Norauto in France (500-plus outlets); Auto 5 in Belgium (50-plus locations); and Midas across Europe (660-plus locations).
Partnering with Mobivia is an opportunity for Michelin to expand access to markets for its products and offer an even richer customer experience alongside ATU, the French tire maker said.
Yves Chapot, executive vice president, Automotive Business Lines and Asia, Africa, India and the Middle East for Michelin, called Mobivia the "benchmark vehicle servicing specialist" in several European countries lauded it for its track record of growth and constantly improving quality of service.
Mobivia Chief Operating Officer Olivier Melis said: "In a changing auto industry, we believe that partnering with an industry leader will enable ATU to continue the renewal process that it began this year."
ATU CEO Jörn Werner said: "Joining Mobivia set the stage for our transformation. Michelin's contribution will strengthen our momentum so that we can sustainably and effectively satisfy our customers, which is one of our priorities."
The deal was disclosed just six weeks after Michelin agreed to partner with and buy into TBC Corp. in the North American tire wholesale segment.