Northampton-based legal firm seals deal for sale of tyre company
A Northampton firm of corporate finance specialists has completed the sale of a prestigious tyre company concluding the late founder's 'legacy'.
Watersheds, in South Bridge Road, Northampton, oversaw the sale of Bell Silencer Services, which was established in 1977 by Ron Bell.
Over the last 20 years the Swindon-based company has become one of the country’s leading independent tyre and exhaust suppliers.
It sells tyres and exhausts for the every day car as well as elite sport cars, including Ferraris and Aston Martins, and is renowned for its skilled craftsmen.
The centre has now been sold to private equity-backed Micheldever, a national tyre supplier based in Hampshire, thanks to negotiations led by Watersheds.
Christine Bell, the wife of the late Mr Bell, said: “When my husband started considering retirement it was always his aspiration to sell it to Micheldever, so this sale represents the conclusion of a family legacy for us.
“We are now looking forward to seeing the company grow as part a bigger national group.”
The deal was completed in just over four months and was orchestrated, managed and concluded by Watersheds. Lawyers from Thrings solicitors also provided expert support.
Jessica Painter, a partner at Watersheds, said: “The negotiations were concluded swiftly and efficiently and all parties involved were delighted with the outcome.
“The name of the company will be retained and the sale will also see more direct resources being invested into growing the business, cementing its future in high-quality service and high performance product range.”
Micheldever Tyre Services (MTS) was founded in 1972 as a part-time venture providing car servicing and tyres.
Micheldever Group is the largest independent wholesaler, distributor and retailer of tyres in the UK, selling six million tyres nationwide, which is around 20 percent of the total UK market.
The group is continuing its expansion drive, having acquired 27 fast fit centres in the last nine months.