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Tue November 24 2020

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Equity investment at Tyrefix

16 Nov Plant machinery tyre repair and fitting specialist Tyrefix UK has received what is described as “a significant capital investment” from private equity firm Literacy Capital.

Tyrefix founders Adrian and Diane Johnson are bowing out
Tyrefix founders Adrian and Diane Johnson are bowing out

Tyrefix was founded 35 years ago  in Leicester by husband and wife, Adrian and Diane Johnson. It remained wholly owned by them and run day-to-day by their son, Oliver. The founders were looking to retire and sell their interest in Tyrefix. They were looking for a partner that could help their son grow the business.

Oliver Johnson remains CEO and,  as part of Literacy Capital’s investment, becomes a shareholder for the first time.

The private equity firm has put in former Travis Perkins chief financial officer Tony Buffin as a non-executive director. Also joining the board as chief financial officer Tom Gover, previously chief executive of a firm of bailiffs, Rundle & Co.

Oliver Johnson said: “The Tyrefix UK model and our whole team is robust, as we have proved during the pandemic by maintaining full national coverage: we never missed a beat and we never let a customer down. I have no doubt that the new senior management team will build on our rock solid foundations to ensure that UK construction has the back-up it needs is in the years ahead.”

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