Wed, 31 Jan 2024 | BUSINESS SALE
Bond International a tyre wholesaler based in Yorkshire, has accelerated its growth and expansion with a triple acquisition. The firm has acquired Stepgrades Motor Accessories Ltd, which trades as Wholesale Tyres, Birkenshaw Distributors Ltd and McConecheys Commercial Fleet Services.
All three companies have been acquired from Halfords Group in a deal that also sees Bond International partner with Halfords to distribute tyres to their entire network. The acquisitions form part of the company’s plan to grow its turnover to more than £500 million by 2026.
From 2017 to 2022, Bond International more than doubled its turnover to £300 million and increased its workforce from 331 to more than 750. This growth was boosted by the acquisition of new sites in Chepstow, Tamworth and Bracknell. As a result of its growth, the company last year announced revised plans for a proposed new head office at its Pocklington site.
Commenting on the company’s latest acquisitions, Bond International Chief Executive Charlie Bond said: "These acquisitions will have a significant impact on our growth in 2024 and beyond. They are part of a longer-term plan that will see the business exceed £500m turnover by 2026.”
"The growth we have experienced since 2019 is phenomenal, our turnover back then was just £181m. The main reason for this growth is the new board of directors formed in 2019, and the strategic plan we put in place. The new board has the knowledge and skills to be able to carry out the plan, we have strong managers and a highly skilled workforce throughout all areas of the company, and the business is now seeing the rewards of its efforts.”
Bond added that the company was using its growth to further invest in its infrastructure, enabling it to improve its services for customers across the UK.
Read about M&A trends in the UK's automotive sector
Specialist wholesaler to the security, and locksmith sector with an extensive active client base and a well maintained ecommerce website.
The business is established and offers its products across the region. The vendors now wish to retire, with the business representing an excellent acquisition for an existing operator within a similar sector or a new market entrant.
Well established, cash generative, leading consumer electronics distributor, with a vast portfolio covering electronics, audio visual, sound, light, public address and MI trades. Owners of individual brands with good known growth opportunities.
26
|
Jul
|
Tunnelling construction technology company falls into administration | ADMINISTRATION
A tunnelling construction technology company based in Basing...
26
|
Jul
|
Sumer firm RMT completes second deal of the year | MERGER
RMT Accountants & Business Advisors, which is part of the Su...
25
|
Jul
|
Occupational health service provider secures PE backing for acquisitions | BUSINESS NEWS
A Hull-headquartered provider of occupational health service...
02
|
Jul
|
Tyre wholesaler expands in Scotland with double acquisition | BUSINESS SALE
Bond International, a Yorkshire-based wholesaler of tyres, h...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.