Bain's European Tyres Distribution acquires Reiff division

The acquisition comes three months after the holding company acquired Italian tyres wholesaler Fintyre from BlueGem Capital Partners.

According to a statement issued by Bain, the merging of the two businesses under the European Tyres Distribution umbrella will result in a group with revenues of around €750m. The group will continue to pursue potential bolt-ons as part of its pan-European acquisitive growth strategy.

Company
Headquartered in Reutlingen, Reiff Tyre and Automotive Technology is a distributor of tyres. The company operates in the premium retail, wholesale, discount and replacement tyres space. It operates via four warehouses and 46 retail outlets, in addition to its e-commerce operations.

In 2016, the business generated a turnover of €340m, according to a statement issued by the acquirer.

People
Bain Capital Private Equity – Ivano Sessa (managing director).
European Tyres Distribution – Mauro Pessi (CEO).
Reiff Tyre and Automotive Technology – Eberhard Reiff (CEO).

Advisers
Equity – PwC (financial due diligence); Roland Berger (commercial due diligence); JLL (M&A); Hengeler Mueller (legal).
Vendor – GCA Altium (corporate finance); Milbank Tweed Hadley & McCloy (legal).

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