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.”