The Wilkes Corporate Team led by Senior Partner Gareth O’Hara has advised Easy Autocentres on the sale of its business to Goodyear UK for an undisclosed sum.
Easy Autocentres is a leading fast-fit provider of tyres, exhausts, batteries and car servicing and operates from 17 sites across the wider Midlands. As one of the largest independent service providers in the UK the acquisition of the HiQ branded units represents a strategic acquisition for Goodyear.
Commenting on the deal, Chris Kisby, Managing Director and majority shareholder of Easy Autocentres said: “Having developed Easy Autocentres through acquisition over the past 12 years I am delighted to have concluded the sale to Goodyear. The Easy Autocentres business with its strong market presence in the Midlands provides Goodyear with an excellent platform to further develop its HiQ brand in the UK and I look forward to seeing the business continue to go from strength to strength under new ownership”.
Commenting on the deal Gareth O’Hara said: Wilkes originally advised Chris on the acquisition of this business in 2008 and have helped him expand the business since then. We are very pleased to have worked with Chris on his largest deal so far and look forward to continuing our relationship with him and the team at Springboard on other deals going forward.
Gareth and the team at Wilkes worked closely with David Neate and Tom Hammond of Springboard Corporate Finance.
David Neate commented: “The fast-fit sector has seen a considerable amount of consolidation over recent years as tyre manufacturers and wholesalers seek to expand and act to protect their routes to market. We expect to see this trend in the marketplace continue over the next few years. Having previously advised Chris on the acquisition of the Easy Autocentres, a subsequent acquisition and refinance, we are delighted to have been able conclude this deal and provide a successful exit for him.”
For help and advice relating to your business get in touch with Gareth O’Hara on 0121 710 5904 or via email at [email protected].