Bain Capital, trhought European Tyres Distribution Limited, the UK strategic platform company owner of Italy’s leading tyre distributor Fintyre, has announced the acquisition of the tyre and automotive technology division of Reiff, the leading independent multi-channel tyre distributor in Germany (see here the press release).
Fintyre, led by ceo Mauro Pessi, is in turn active both in the retail and wholesale businesses with 11 deposits in Italy and 36 shops. After a series of acquisitions (see here a previous post by BeBeez), Fintyre, reached 400 million euros in revenues in 2016, selling 6.3 million tyres to more than 15k customers. European Tyres Distribution Limited acquired Fintyre in March 2017 (see here a previous post by BeBeez).
The combined revenues of Fintyre and Reiff Tyre and Automotive Technology are expected to exceed 750 million euros this year and Ivano Sessa, a managing director at Bain Capital said: “This acquisition represents our first step towards creating the leading Pan-European player in the tyre distribution sector”.
The financial, commercial and legal advisers on this deal are: PwC, Roland Berger, JLL and Hengeler Mueller for the acquirer; GCA Altium and Milbank for the seller.