Michelin Group acquires truck tyre supplier Tructyre Fleet Management

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Michelin Group has acquired truck tyre supplier and service provider Tructyre Fleet Management, which has 26 service centres across the UK.

The deal enables the Tructyre service brands to be run and developed as part of a strategic alliance with ATS Euromaster.

Legal advice to founding director and shareholder, Glenn Sherwood, was provided by Moore Blatch, which has completed more than £500 million of corporate transactions over the past 18 months.

Corporate finance advice was provided to Glenn Sherwood by Spectrum Corporate Finance.

Sherwood said: “This strategic alliance brings together two of the leading multi-brand commercial tyre service companies.

"Both are as committed as ever to delivering an excellent service to their customers.

"The Moore Blatch team has built a reputation for handling deals such as this, and their extensive experience made the whole process very straightforward.”

As part of Tructyre’s business plan, Sherwood had been looking for a strategic partner to offer strong forward looking, sustainable growth and an exit strategy eventually for him.

At the same time, the Michelin Group had been exploring opportunities to invest in a business that could support its drive to increase its presence in the regional commercial business sector.

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