Potteries Tyres undergoes MBO
Potteries Tyres, based in Stoke-on-Trent, has been acquired by two of its employees in a management buyout (MBO). The purchase of the commercial and car tyre retailer was made through a finance package provided by NatWest.
Simon Alcock and Mark Hudson have acquired the business, which operates from Mason Street in Fenton, for an undisclosed sum from the current shareholders.
Alcock said the deal had safeguarded the jobs of the company’s 14 employees.
NatWest senior relationship manager Steve Latham provided the funding package for Potteries Tyres Limited. He said: “I am delighted to have supported Simon and Mark with this buyout. Simon and Mark have been an important part of Potteries Tyres for many years and really understand the business and customer needs.
"They have clear plans and a very pro-active, knowledgeable and highly motivated team behind them. The business is in great hands and we wish them well.”
Simon Alcock, Mark Hudson and Potteries Tyres were advised by Tim Virgo at Mitten Clarke Accountants.
