Halfords snaps up southern-based tyre services firm in £15m deal
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Halfords has acquired a chain of southern-based motoring services centres in a £15m deal.
Universal Tyre and Autocentres, with 20 sites and 89 commercial vans operating in the South East and on the east coast of the UK, has been acquired by the Birmingham giant. The £31m turnover company specialises in tyre services, including the supply and fit of tyres for a wide range of vehicles, from cars to commercial and agricultural vehicles, as well as providing general car maintenance and repairs such as brakes, servicing and MOT.
The deal sees Halfords approach its ambition of having over 550 garages in the UK.
Graham Stapleton, chief executive, said: “We have a clearly stated strategy of building a market-leading Motoring Services offer, and the acquisition of Universal is another important step forward in helping us to achieve that goal. We continue to see strong demand for our Autocentres, for our expanding fleet of Halfords Mobile Expert vans, and for our growing commercial business. Universal will help us to meet that demand whilst also expanding our geographic footprint in a market for which we see significant potential.”