TLT has advised Bandvulc Group, a leading UK fleet management service provider and independent truck tyre retreader, on its sale to Continental Tyre Group, a leading global tyre manufacturer.
The deal will establish Bandvulc Group as a wholly owned subsidiary of Continental UK Group Holdings Ltd, which is also the parent of Continental Tyre Group. Going forward the entire management team at Bandvulc Group will stay with the business and their UK factory will continue to offer retreads in both ContiRe and Bandvulc brands.
The TLT team was led by John Wood corporate partner and corporate associate James Webb.
TLT's John Wood said: "This partnership marks a new chapter for Bandvulc Group. The complimentary customer portfolios and product lines of our client and Contintental Tyre Group will benefit both parties and manufacturing in the South West. The O'Connell family have built a significant business in just two generations and this deal will allow that business to realise its future ambitions and capitalise on new market opportunities."
Patrick O'Connell, Managing Director of Bandvulc Group, said: "It was a pleasure working with John and James and the TLT team throughout the deal, they provided clarity and support throughout a complex process."