Invests 55 mln pounds for a majority stake (Il Sole 24 Ore Radiocor) - London, 19 Aug - The UK investment trust Caledonia Investments said that it has invested 55 million pounds to acquire a majority stake in Direct Tyre Management Limited (DTM), a UK provider of outsourced tyre management services to fleet operators.

The management team has reinvested alongside Caledonia to acquire 100% of the business from investors including Palatine Private Equity.

Founded in 2004, DTM provides specialist, independent outsourced tyre management services. The business has consistently delivered year-on-year growth with a revenue compound annual growth rate of about 16% over the last 15 years, it added.

Headquartered in Blackpool, DTM has over 100 employees and serves some 250 fleet customers with about 285,000 vehicles and around 1,300,000 tyres under management. Enabled by a proprietary technology platform, DTM connects the vehicles it manages to a national network of over 3,500 service provider locations.

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(RADIOCOR) 19-08-24 11:42:51 (0185) 5 NNNN