Elmersdale, UK – UK's tire service and management specialist DTM, backed by Palatine Private Equity, has acquired TyreWatch, a provider of real-time tire monitoring technology.
Based in Basingstoke, TyreWatch provides digital tire management services to monitor and manage the wheels and tires of heavy goods vehicles (HGVs) and public service vehicles, said Palatine in a statement 13 July.
Established in 2017, the acquired company has grown to support clients across the UK, Europe, the Middle East, Africa and Australia
The acquisition will strengthen DTM’s strategy to provide fleet customers with a tailored tire management approach, according to Palatine.
Using the smart technology, DTM will be able to predict and prevent potential roadside failure, reduce waste and improve fleet efficiency.
Among other solutions, DTM expects the addition of the TyreWatch and TrailerSmart technologies to bolsters its tire management offering.
The solutions, it said, use intelligent tire technologies to detect issues “before they become obvious at daily visual inspections.”
“This acquisition represents an extremely exciting and natural pairing within the tire management industry,” said James Winterbottom, senior investment director, Palatine Private Equity.
The move, he said, brings together "knowledge, experience and market-leading technology" of the two businesses and builds a business achieves "sustainability advancements alongside profitable growth."