Asb law’s corporate finance team has advised the shareholders of Tyremark in the sale of the company’s entire issued share capital to auto services company Micheldever Tyre Services. Founded in 1972, Micheldever Group, based near Winchester, is the fastest growing wholesaler, distributor and retailer of tyres in the UK.
With two depots in Caterham and Folkestone, Tyremark is one of the leading tyre and auto services companies in the South East. Set up in 1978 by Susan and Karl Webber, the company focuses on providing a high level of service and expertise to clients. This 'customer-first' approach has allowed the company to grow and maintain success for almost 40 years whilst gaining an Automobile Association certification in the process. Now that the sale has completed, Karl and Susan will exit the business to pursue other interests.
Speaking about the sale, outgoing director Karl Webber said: “asb law guided us through the sale process and ensured we got the deal we wanted and deserved.”
asb law’s corporate finance team was led by partner Daniel Tozer and supported by the firm’s property and employment teams. Tozer stated: “We are delighted to get this deal over the line and for Susan and Karl to benefit from their hard work in establishing a successful business. We wish them and Micheldever Group all the best for the future.”