Wed, 28 Feb 2024 | BUSINESS SALE
Nova Motorsport, a newly-formed company, has acquired the motorsport assets and intellectual property of Avon Tire & Rubber Company, which closed its Melksham site in late 2023, with the loss of 350 jobs.
The assets acquired by Nova Motorsport, which include the brand license, are traditionally used in the manufacture and sale of the range of motorsport tyres under the Avon Motorsport and Avon Racing names. As a result of the acquisition, Nova Motorsport has established itself as the global supplier of the majority of Avon Motorsport and Avon Racing tyre products, including a wide range of premium, competition and specialist tyres.
Nova Motorsport, which has a newly-established commercial headquarters in Holt, Wiltshire, was founded by Paul Hallas, Managing Director of the firm’s parent company, SPC Rubber Group. SPC, which has offices in Westbury, Rhondda Cynon and Barcelona, is a leading global manufacturer of rubber compounds.
Following the acquisition, Paul Hallas commented: “The Avon Motorsport brand has been revered for setting the highest standards on the race track for well over a century. At Nova Motorsport, we are immensely proud to have acquired assets, including the brand licence, traditionally used in the manufacturing and sale of a broad range of motorsport tyres under the names Avon Motorsport and Avon Racing.”
“Leveraging the valuable assets and manufacturing IP, and with key staff joining us from the Avon Motorsport business, we will diligently continue the legend with a comprehensive range of Avon Motorsport tyre products. Looking to the future, we will also innovate with new offerings borne out of our long-established expertise in rubber compounding at SPC Group."
He added: “We are fortunate to start our new business with a recognised product and ready global reach. This will help us swiftly establish our presence as a ‘new brand with heritage’ in the industry.”
Avon Tyres was founded in 1904 and rapidly established itself in the automotive industry, earning particular recognition for manufacturing tyres for car racing. The company’s tyres became staples of various motorsport categories, with Avon supplying F1 racing teams from the 1950s to 1980s.
Click here to download our free guide on finding and buying distressed businesses and assets
Founded in 2018, this business has grown from a passion project into a leading manufacturer of luxurious, bespoke shepherd huts and glamping products.
An opportunity exists to acquire the shares or business and assets of a long-established company specialising in branded labelling, packaging, and bespoke promotional products.
Discover a highly reputable and well-regarded brewery in the thriving North-East, offering a unique opportunity to own a piece of the flourishing craft drink industry.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.