Company overview: Headquartered near Leicester, Tyrefix is a provider of fast-response emergency tyre repair and replacement services for plant equipment to housebuilders and plant hire companies across the UK. Tyrefix has built its national footprint over time, enabling it to provide reliable and consistent levels of service to their customers, that required a rapid response to resolve their urgent equipment issues.
Our initial investment: The business was founded in the mid-1980s by husband-and-wife duo. It remained wholly owned by them and run day-to-day in the last couple of years prior to Literacy’s investment by their son, Oliver. The founders were looking to retire and sell their interest in Tyrefix. They were looking for a partner that could assist Oliver, to strengthen the team and continue to take care of their business and expand it further. As part of the transaction, Oliver became a shareholder for the first time. He was also joined by two new colleagues that we introduced from our network. A new Chairman and CFO joined Tyrefix at completion, bringing valuable additional bandwidth and experience.
Building value: With the strengthened team, Tyrefix has grown market share in existing markets, expanded into adjacent markets and further improved their operations. Tyrefix has the central functions in place to support a larger group that could provide rapid-response services to the broader construction, agricultural and engineering markets.
During Literacy's investment, Tyrefix has also completed two bolt-on acquisitions. Firstly, the acquisition of Fix'N'Fix in November 2022, followed by the acquisition of C&S Tyres a year later, to expand the group's service offering and end markets.
Exit: In January 2026, Literacy announced the sale of its entire shareholding in Tyrefix to Citira AB, a Northern European tyre management provider backed by Nordic private equity investor, Norvestor. Literacy realised a 2.5x MoM return and a 25.0% IRR upon exit.
Website link: www.tyrefixuk.com
Completion: November 2020
Exit announced: January 2026