Procuritas Capital Investors IV acquires Däckia Holding AB from Goodyear Dunlop Europe BV
Press Release, Stockholm
Procuritas Capital Investors IV LP A (PCI IV) acquires Däckia, the leading Swedish tire services chain, from Goodyear Dunlop Europe BV. Goodyear will remain a minority owner and key supplier to Däckia.
The contract is subject to approval of the Swedish Competition Authority. Further financial details were not disclosed.
The acquisition takes place through an international consortium led by PCI IV.
The main purpose of this agreement is to enable investments in further expansion of Däckia.
“We are impressed by the strong position Däckia has in its markets, as well as the strength of the Däckia brand name”, says Erik Fougner of Procuritas Partners GmbH, advisor to PCI IV and board member of PCI IV GP. “We see many opportunities to grow the company and PCI IV has the capital available to support the development of Däckia.”
“Däckia’s management team is convinced that this change of ownership will have a positive influence on the company. We are looking forward to working with Procuritas to further grow and expand the Däckia business. Procuritas resources and competences will give us additional opportunities to improve our market position and strengthen our customer service. It’s also a very positive signal for us that Goodyear stays on as minority owner and continues to be a key supplier”, says Pär Landberg, CEO of Däckia.
“We welcome Procuritas’ confidence in Däckia and we are convinced that Goodyear will have a continued strong supplier relation with Däckia” says Henry Johnson Vice President of Goodyear Dunlop Tires Europe.
Däckia is a leading provider of tires, tire changing and tire storage services to private and corporate customers in Sweden. Its network spans from Ystad in the south to Kiruna in the north of Sweden. The Däckia chain consists of 57 fully owned tire service stations in Sweden and cooperates additionally with 50 partner operated stations. Däckia’s turnover is approximately 55 Mio EUR (600 MSEK) and employs about 350 people.
Goodyear employs approximately 71,000 people and manufactures its products in more than 60 facilities in 25 countries around the world. Goodyear’s innovations have set automotive standards for more than 100 years. Goodyear has been the pioneer of the innovative safety technology known as RunOnFlat, which allows a driver to continue on a journey with a punctured tire. Goodyear is the world’s leading manufacturer of RunOnFlat tires, with applications on various BMWs, the award winning Mini, Mercedes-Benz high performance cars, Opel and other brands. Additional Goodyear RunOnFlat fitments are on the horizon, as the company’s designers are working with multiple automobile manufacturers on more than 100 RunOnFlat projects.
For more information on Goodyear and its products, visit www.goodyear.com.
Procuritas Capital Investors IV is a private equity fund focusing on mid-sized companies in the Nordic Region. Däckia is the second investment by PCI IV. PCI IV is advised by Procuritas AB and Procuritas Partners GmbH. Procuritas is a Scandinavian private equity house specialized in initiating, structuring, and financing management buyouts. Founded in 1986, the company was the pioneer in introducing the concept of management buyouts in the Nordic region.
More information about Procuritas can be found on www.procuritas.com.
For further information, please contact:
Procuritas Erik Fougner, Partner, Procuritas Partners GmbH
tel. +46 702 66 31 11
Tomas Johansson, Partner, Procuritas AB
tel. +46 733 25 45 02
Däckia Pär Landberg, CEO
tel. +46 703 48 52 51
Goodyear Jens Voelmicke, PR Manager, EMEA
tel. +352 8199 2010