Birketts has advised Murfitts Group on the deal.
Murfitts Group (Murfitts) has been sold to European Tyre Enterprise Ltd (ETEL), owners of the Kwik Fit retail chain. The value of the deal is undisclosed.
Murfitts are one of the leading businesses producing rubber granulate products, processing and repurposing more than 20m post-consumer car tyres every year. Based in Suffolk but operating across the UK, the business has expanded to include processing sites in Manchester, Birmingham and Scotland in recent years, bespoke production plants and processes that use every part of a tyre to eliminate waste. ETEL have purchased 100% of Murfitts, with Managing Director Mark Murfitt to continue leading the company.
ETEL own a number of tyre and automotive chains across the continent, including Central Tyre and Stapletons Tyre Services. Between these and the maintenance and repair businesses, ETEL boasts annual sales revenues of more than £1bn across five countries in Europe.
The deal was led by James Allen (Picture) with assistance provided by Stephanie Newman, both in the Birketts’ Corporate Finance Team.
Law Firms: Birketts LLP;
Clients: Murfitts Group;