Completion of investment into Tyrefix - November 2020

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 issues

 

It was founded over 34 years ago by husband and wife, Adrian and Diane. It remained wholly owned by them and run day-to-day 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

 

Oliver will remain CEO but, as part of our investment, will become a shareholder for the first time. He is also joined by two, new members of the team

 

Tony Buffin joins the Board as a non-Executive Director and brings six years of relevant experience from his role as Group COO and CFO of Travis Perkins plc between 2013 and 2019. Tom Gover joins the business as CFO at completion, from Rundles & Co., a family-owned debt recovery business, which he led through a successful exit in 2019

With the strengthened team, Tyrefix will look to build on growth in existing markets, identify opportunities for expansion into adjacent markets and further improve the operations

The transaction involved senior debt financing provided by Investec Bank plc and Avondale as sell-side advisors

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