Transaction Details

June 22, 2017
Munich

Sector

Industrials and Industrial Technology

Deal Type

M&A

Deal Value

N/D

Deal Team

Dr. Martin Kühner, Madeleine Jahr, Axel Bauer, Zvetomir Zenov, David Thomas

GCA Altium advises REIFF Tyres on its sale to Bain Capital / Fintyre

GCA Altium acted as exclusive financial advisor to REIFF Tyre and Automotive Technology, the leading independent multi-channel tyre distributor in Germany, on its sale to Bain Capital and Fintyre, the leading distributor of replacement tyres in Italy.

European Tyres Distribution Limited, the owner of Fintyre, acquired REIFF’s tyre and automotive technology division, a subsidiary of the REIFF Group, as part of the strategy to create a European leader in tyre distribution. The combined revenues of Fintyre and REIFF Tyre and Automotive Technology are expected to exceed €750 million. European Tyres Distribution Limited aims to become the leading independent tyre supplier in Europe in the coming years through both organic growth and further acquisitions of European tyre distribution companies.

REIFF Tyre and Automotive Technology operates across the wholesale, retail and online value chain via four warehouses and 46 retail outlets. In 2016, it generated sales of approximately €340 million to more than 285,000 customers. The company has excellent brand awareness in both the premium retail and discount sectors and a strong position in the replacement tyres distribution business.

Fintyre is one of the few businesses in the world that covers a comprehensive range of vehicles and applications. European Tyres Distribution Limited, a strategic platform company based in the UK owned by Bain Capital Private Equity, a leading global private investment firm, acquired Fintyre in March 2017.

Eberhard Reiff, REIFF Tyre and Automotive Technology's CEO, said: “This strategic acquisition by European Tyres Distribution Limited marks the next step in the growth of our tyre division and is the best choice for further internationalization. We are proud that the new partnership with Fintyre shall become the nucleus for the largest independent tyre supplier in Europe.”

This transaction marks yet another successful deal advised on by GCA in the automotive space following Autoform's sale to Astorg, Gestigon's sale to Valeo, Witte Automotive's refinancing, Delphi Automotive's sale of a portion of its mechatronics business to Northeast Industries and Ophoenix, and Nissin Kogyo's carve-out and subsequent sale of a majority stake in its automotive braking business to Autoliv.

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