A Burton upon Trent based tyre company, Kings Road Tyres Group (KRTG) has been sold by their Chinese owner, Sailun Jinyu Group. KRTG has a £50 million turnover and an exclusive UK agreement to distribute Fullrun TBR and passenger car tyres; Taurus and Speedway agricultural tyres and house brand Kingstone, for implement products and tubes.
Investment and backing was provided by London based specialist finance house ReSolve and The Bayway Group.
KRTG managing director Adrian Bader said: “ReSolve has shown great commitment and clarity in what is needed for our next stage of development and I am looking forward to a successful, long term relationship with them.”
Senior Partner of ReSolve, Cameron Gunn, added: “We are delighted to complete this transaction with the support of our investment partner Ken Browne at The Bayway Group. We are already working with Adrian Bader and his team on the next phase of Kings Road Tyres’ development.”
KPMG’s Midlands deal advisory team acted as advisor to KTRG.
Chris Pole, partner, said: “This transaction reflects a great opportunity for KTRT to re-establish itself in the market.
“The joint investment and support will provide the platform for future growth and expansion.
“We are delighted to have advised KTRG and wish them, ReSolve and Ken Browne the best for the future.”