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NTS and Viking sold to MBO

Continental Group has sold tyre retailer National Tyre Service and Viking International, which distributes tyres, exhausts and batteries, to a management buy-out team headed by chairman and chief executive Alan Revie.

The deal, for an undisclosed amount, sees both companies, together with a property firm and several businesses in the Channel Islands, operating under a new holding group, Axle Group Holdings. Turnover will exceed £100m.

The MBO team includes Viking International executive director John Caldwell, National Tyre Service financial director John Taylor and Viking financial director John Kemp. They intend to implement a development programme to bring together all the companies, starting with a £1m investment in a new computer network.

Mr Revie said: “Both companies offer strong management teams and excellent prospects for the future. We look forward to realising the potential of both companies.”

Stockport-based National Tyre Service, which has 214 outlets and more than 1,000 staff, and Glasgow-based Viking, with 250 staff at 10 outlets, will retain their trading names.

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