Global mobility firm secures stake in Halfords subsidiary

Global mobility firm Bridgestone has acquired a 5% stake in a Halfords subsidiary for £3m, as well as becoming one of its clients.

Avayler was developed in-house by Halfords in 2021 to manage services across garages, mobile vans and retail stores. It is a “software as a service” provider for automotive companies that operate in multiple locations, helping businesses digitalise their service, from online customer booking through to invoicing.

Bridgestone also joins Avayler’s client list, which includes names such as American Tire Distributors, Tirebuyer and Mobivia. With an initial term of 15 years, Avayler will provide Bridgestone with access to its in-garage and van software products as well as certain services to facilitate Bridgestone’s use of it. The agreement provides for the roll-out of Avayler’s products across Bridgestone’s retail and van operations in the USA.

The proceeds of the cash deal will be used for general corporate purposes, including to support the continued growth of Avayler says Halfords.

Avayler had gross assets as of 31st March 2023 of £3,054,618, and generated a loss of £74,662 in the financial year ending March 2023.

Graham Stapleton, CEO of Halfords, commented: “Since its launch a little over two years ago, Avayler has been chosen by some of the largest automotive businesses in the world who have immediately realised the compelling value that it can add to their operations.

“Today’s investment from Bridgestone, one of the world’s largest mobility companies with over 3,000 garages and vans under its world-wide operation, is another fantastic endorsement for the platform, and the length and scope of the agreement fuels our confidence in Avayler’s long-term potential as we continue to roll it out to more clients around the world.”