Watling Tyres are Now 100% Owned by Directors

 

Watling Tyres are Now 100% Owned by Directors

Watling Tyres are happy to announce that we are now 100% owned by our directors. These changes are thanks to our continued success and growth, which has prompted us to undergo a company restructuring that reflects our progression.

What has changed?

Previously, Watling Tyres was 49% owned by Universal Tyres, a partnership that has helped our company to thrive over the years. However, after successive years of sustained growth and a turnover last year in excess of £25 million, a decision was made to transfer the ownership of this share lack to our Director and Chairman, Mr. Norman Flury.

How did the change occur?

We’re now nationally recognised as a premier tyre dealership and MOT business, ranking 19th of Tyre Accessories’ 2017 leading UK tyre retailers, and we felt it was time to be responsible in every way for our company. Watling Tyres was advised by law firm Thomson Snell & Passmore during the share purchase process to help the transaction proceed smoothly.

How will this change benefit our customers?

Our team hopes that the transfer of this ownership percentage will help our company continue to grow in the future, and will provide more support to our loyal customer base.

Roger Flury, director of Watling Tyres, said: “We are delighted to have concluded this transaction which secures 100% ownership of our company. We can now work to recognise our long-term objectives, which include expansion and refurbishment of selected depots and continuing to focus on offering our customers the best possible service available.”

Watling Tyres would like to thank our customers, our 135 loyal employees for making this change possible, and also for the invaluable advice from Joanne at Thomson Snell & Passmore, Claire at The Carley Partnership, and Nigel at Barclays.

 

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