London-based European Tyres Distribution Limited (“ETD”) today announced that it has signed a definitive agreement with REIFF, a German family-owned company based in Reutlingen, to acquire its Tyre and Automotive Technology division. ETD, a strategic platform company based in the UK and owned by Bain Capital Private Equity (a leading global private investment firm), owns the Fintyre Group, a leading distributor of replacement tyres in Italy. The acquisition is in line with the goal of improving the positioning across the highly fragmented European tyre distribution sector. REIFF Tyre and Automotive Technology is the leading independent multi-channel tyre distributor in Germany and operates across the entire value chain. In 2016, the family-owned business generated sales of approximately EUR 340m to more than 285,000 customers. The parties to the transaction are not disclosing the key terms.
Hengeler Mueller is advising ETD on the transaction. The Hengeler Mueller team is led by partner Daniel Wiegand (M&A, Munich) and includes partners Martin Geiger (London), Johannes Tieves (Frankfurt) (both Finance), Dirk Uwer (Public Law, Düsseldorf), Christian Hoefs (Labour, Frankfurt), Matthias Scheifele (Tax, Frankfurt), counsel Mathias Link (Tax, Frankfurt) and Patrick H. Wilkening (IP, Düsseldorf) as well as associates Bernd Dreier, Christoph Jerger (both M&A, Munich), Steffen C. Hörner, Yasmin Holm (both Tax, Frankfurt), Miriam Peter, Bernhard K. Quensel, Henning Hilke, Jochen Schnepper (all Finance) (all Frankfurt), Michael Schramm (Public Law), Vicki Treibmann (Labour) and Maximilian Tim Wosgien (IP) (all Düsseldorf).
