June 15, 2022
• Acquisition is an important milestone towards nationwide market presence in Germany
• Customers of both companies benefit from further improvement in service quality
Höhr-Grenzhausen / Bernau bei Berlin – Rivean Capital portfolio company Best4Tires Group (“Best4Tires”), one of the leading suppliers around tires, rims and complete wheels in Germany and Europe, has entered into a binding agreement to acquire the tire wholesaler 1a Berlin-Tyre GmbH & Co. KG (“Berlin-Tyre”) based in Bernau bei Berlin. This represents another important milestone towards Best4Tires’ strategic goal of establishing a market presence throughout Germany.
Berlin-Tyre was founded in 1990, employs approximately 100 people and has become the market leader in Berlin and Brandenburg with a strong presence in eastern Germany. The company stands for a comprehensive product range and a high level of service orientation and quality.
Thanks to the entrepreneurship and vision of its founder and managing director Michael Lehmann, Berlin-Tyre can look back on a history of continuous growth. Today, Berlin-Tyre already generates more than 50 percent of its sales through its self-developed online store.
In Berlin-Tyre, Best4Tires has found an ideal partner in terms of strategy, product portfolio and corporate culture. As a result of the merger, customers of both companies will benefit from a further improvement in service quality – including a further increase in the availability of goods, optimization of supply, and a reduction in delivery times.
“After the merger, my team and I will support the combined company in implementing the planned growth strategy,” said Berlin-Tyre founder Michael Lehmann.
Dr. Peter Schwibinger, CEO of Best4Tires, looks ahead to the joint future: “The acquisition of Berlin-Tyre significantly expands Best4Tires’ business for the benefit of our customers. What we have in common is the high quality of service in tire logistics, regional strength with extensive direct deliveries and an unconditional focus on the needs of our customers. We are convinced that this common culture will be the basis for our further growth. We look forward to working with the founder of Berlin-Tyre and are impressed by his entrepreneurial life’s work. Likewise, we look forward to welcoming Berlin-Tyre’s employees as part of the Best4Tires family.”
Andreas Klab, Partner at Rivean Capital, adds: “With Berlin-Tyre, we have been able to bring on board one of the leading tire wholesalers in Germany with the broadest product range. The acquisition is another important milestone in the strategic development of Best4Tires and will significantly strengthen the company’s market presence in Germany. The acquisition of Berlin-Tyre is evidence of the attractive value creation opportunities in the fragmented market for specialized logistics services. Rivean Capital’s strength lies in identifying promising companies with strong business models and developing them in partnership with management.”
The parties have agreed not to disclose the purchase price of the transaction. The transaction is subject to approval by the competition authorities and is expected to close in July 2022. The seller Michael Lehmann was advised by Cowen (M&A) and CMS Hasche Sigle (Legal). Best4Tires was advised by Ebner Stolz (Financial, Legal, Tax).
About Best4Tires
Emerging from the company Reifen Gundlach, Best4Tires stands for a comprehensive portfolio of products and services for tires, rims and complete wheels – and for almost 50 years of experience in the industry. The company is heading into the future as a digital pioneer that is helping to shape the industry in the long term, while continuing to expand its existing leadership role in the German and European market. Dr. Peter Schwibinger, CEO Best4Tires, says: “With Best4Tires, we are confidently entering the market and pursuing the goal of setting new standards as a digital service provider nationally and across Europe. In doing so, we continue to optimize what has long been our hallmark: uncompromising customer service, optimal performance and logistical perfection.”
For more information, please visit www.best4tires-holding.com
About Rivean Capital
Rivean Capital is a pioneer in the European private equity market with 40 years of experience in the strategic development of market-leading, medium-sized companies in growth markets. Since its founding in 1982 under the name “Gilde Buy Out Partners”, the fund has completed more than 250 platform investments and currently manages assets of more than three billion euros on behalf of institutional investors worldwide.
With a strong regional presence in Germany, Switzerland, the Netherlands, Belgium and Italy, Rivean Capital pursues a pan-European investment strategy. It successfully implements tailor-made growth strategies, in particular international expansion strategies, extensive investment projects in new products and markets, and acquisitions as part of buy-and-build strategies. Rivean Capital sees itself as an entrepreneurial partner of its portfolio companies for an active business transformation to further improve competitiveness and to sustainably increase value.
For more information, please visit www.riveancapital.com