Bridgestone will retain the current management team and staff and is expected to use the Speedy platform to expand its European business.
In 2011, MCB Group, a leading banking and financial services provider in East Africa, financed the acquisition of Speedy, a leveraged management buyout transaction, in a blend of debt and equity through its ever green private equity fund, MCB Equity Fund Limited, and its banking arm, MCB Limited.
Since then, the management team has further consolidated Speedy’s market position by building on its network of repair centres, a growing fleet business and customer base, its innovative and client-orientated culture and an enhanced brand image. Today, the company has 480 repair centres across France, half of which are franchisees. Speedy sold 1.2 million tyres last year, accounting for 4.5% of the French market.
The seller was advised by MCB Capital Markets (Selvinah Vydelingum, Rony Lam and Joël Lambert) and Raphaël Financial Advisory.
Pierre Guy Noël, Chief Executive, MCB Group: “This transaction demonstrates MCB’s ability to support complex cross-border transactions and adds to the growing credentials of our Private Equity, advisory and International Banking teams.”
Raoul Gufflet, Deputy Chief Executive, MCB Limited: “This transaction has the merit of bringing a set of pluridisciplinary competences across the MCB Group, from structured financing to corporate advisory and investment banking.”