An autocentres company which has a network of branches across the Midlands has been acquired by Goodyear UK.
Easy Autocentres, which includes the HiQ brand, has been snapped up for an undisclosed fee.
The company, which is registered in Kettering, Northamptonshire, was formed from a management buy-out from Goodyear in 2008.
Easy Autocentres is a fast-fit provider of tyres, exhausts, batteries and car servicing, operating from 17 sites across the Midlands.
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.”
Goodyear UK is headquartered in Birmingham.
Easy Autocentres was advised by David Neate, partner and Tom Hammond, executive at Springboard Corporate Finance and the Wilkes Partnership.
Neate added: “The fast-fit sector has seen a considerable amount of consolidation over recent years as global 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 original acquisition of the Easy Autocentres, a subsequent acquisition and refinance, we are delighted to have been able conclude this deal and deliver a successful strategic exit for him.”
Gareth O’Hara, partner at the Wilkes Partnership, said: “We originally advised Chris on the acquisition of this business in 2008 and have helped him expand this 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 Springboard.”
Other advisors to Easy Autocentres included Claritas Tax (Iain Wright and Fiona Holloway).
Roger Birchall, partner at Browne Jacobson LLP advised Goodyear.
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