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Bank pumps in cash help as truck tyre firm seals £320,000 buyout deal
Jul 16 2008 by Tony McDonough, Liverpool Daily Post
BUSINESSMAN Mike Carroll has completed a management buyout of the Deeside-based commercial tyre division of Rhyl Tyre & Battery, in a £320,000 deal funded by the Royal Bank of Scotland.
The business will trade as Tyremaster, operating from sites at the Deeside Industrial Estate and Gaerwen on Anglesey. The new company has 12 employees.
It provides a commercial tyre breakdown service along the A55 Corridor and North Wales coast, particularly for trucks using Holyhead.
Its clients include several major haulage chains.
Tyremaster will also provide a tyre replacement service for companies in Deeside and North Wales in the construction and agricultural sectors.
Mr Carroll said: “Having worked at Rhyl Tyre & Battery for several years, I was aware of the good reputation the commercial tyre division had in the market.
“By creating a new company based on the skills and knowledge that exist within the division, I am confident that we can grow turnover and increase our market share.”
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