CFI advised Magna Tyres on the acquisition of OBO Banden
Amsterdam – CFI is pleased to announce it acted as the exclusive financial advisor of Magna Tyres Group on the acquisition of OBO Tyres by Magna Tyres Group.
Founded in 1959 in Beezerveld, OBO Tyres initially focussed on the sale of new tyres, tyre retreading and tyre repairs. The fast expanding tyre retreading market led to the decision to completely focus on tyre retreading and tyre repairs. Over the years the company has specialised in tyres for the Off-The-Road (OTR) and agriculture markets and in 2006 the company moved to a modern production facility located in Hardenberg.
Magna Tyres Group manufactures OTR, Industrial and Truck tyres. The company develops and produces high quality tyres for mining, construction, port handling and industrial purposes, especially designed for challenging applications. The company expanded significantly in the tyre industry in the last few years and currently has 10 sales offices worldwide. The products of Magna Tyres are sold in more than 110 countries all over the world. Magna Tyres Group continues to expand its sales and distribution network and therefore the company will invest in a new 24,000 square meter warehouse in the Netherlands. Expansion of the warehouse space is required to fulfil the increasing needs of European partners in Germany, France and the Netherlands and to provide the best service and availability for its customers.
According to Michael de Ruijter, CEO of Magna Tyres Group, OBO Tyres offers the opportunity to explore new markets and is another step in the global expansion of Magna Tyres Group. Next to a wider product offering, the company can now also offer cost effective tyre retreading. The acquisition of OBO Tyres by Magna Tyres Group was completed in the beginning of January 2017. Both companies will keep operating under their own company name.
The transaction was closed in January 2017.
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