Leading South East law firm Thomson Snell & Passmore have advised Kent based family-run tyre dealer and autocentre company, Watling Tyre Service Limited, this week in connection with a share purchase and restructuring transaction for an undisclosed sum.
Watling Tyres, which provides a wide range of tyre and fitting services, MOTS, and all manner of auto servicing, has been established for over 55 years and has a total of 15 branches across the Kent county and surrounding areas.
Watling Tyres, who have been growing from strength to strength in recent years, turned over in excess of £25 million in its last financial year, and are confident that the restructure will position it to continue to grow and support its loyal customer base.
Director of Watling Tyres, Roger Flury, said: “We are delighted to have concluded this transaction which secures 100% ownership of our company. We can now work to recognise our long-term objectives, which include expansion and refurbishment of selected depots and continuing to focus on offering our customers the best possible service available. I would like to thank our 135 loyal employees at Watling Tyres for their hard work and commitment, making this transaction possible, and also for the assistance and advice from Joanne and her team at Thomson Snell & Passmore, Claire from The Carley Partnership, and Nigel and his team at Barclays for guiding me through the process of the acquisition.”