Hanover, July 6, 2016. Continental Tyre Group, a wholly owned subsidiary of Continental AG, announces the acquisition of Bandvulc (B.V. Environmental Ltd.), a leading UK fleet management service provider and independent truck tire retreader. The deal sustainably strengthens Continental Tyre Group’s position in the UK and Irish market. The takeover will establish Bandvulc as a wholly owned subsidiary of Continental U.K. Group Holdings Limited.
With over 40 years of experience in hot retread and casing management, Bandvulc has had a close working relationship with Continental Tyres for over 25 years. The current UK factory at Ivybridge will continue to offer high quality retreads in both ContiRe and Bandvulc brands going forward, with plans for further investment to widen the range of ContiRe produced in the UK. While Continental will benefit from the ownership of a local production facility it also allows the current Bandvulc business to expand, with access to Continental’s global network of customers and fleet services.
Speaking of the acquisition, David Smith, Managing Director of Continental Tyre Group, said: “This partnership is a logical step in the close working relationship Continental and Bandvulc have enjoyed for many years. Our complimentary customer portfolios and product lines mean that each area of the business is able to benefit from extensive growth opportunities with very few areas of overlap.
It is our intention to continue to run both businesses very much as they are today, and we are delighted to say that the entire management team at Bandvulc will be staying on, including Patrick O’Connell, the current Managing Director”, Mr. Smith concluded.
Patrick O’Connell, Managing Director of Bandvulc Group, commented: “Having worked with Continental for over 25 years, we believe they offer the best opportunity for the Bandvulc business to enjoy continuous growth in the future. In addition, we felt that the culture and strategies of both companies fit well together giving us clear synergies and a cohesive structure moving forward.”
Bandvulc has built a wide fleet portfolio covering a number of key retailers, supermarkets and logistics companies. The various business sectors in which they operate will compliment and add value to the Continental Tyre Group fleet strategy. The acquisition includes the tire maintenance service network covering five service hubs and seventy five service vans. This capability will further strengthen Continental’s current Conti360° Fleet Services network offer.