Marking the transfer of ownership of TiAuto Investments to Marubeni Corporation of Japan, from left to right: Alex Taplin, CEO, TiAuto; Eric Kump, MD, Alterra Capital Partners; Kazumichi Watanabe, COO, Marubeni Corporation, Lifestyle Division; Jacci Myburgh, Co-Head, Old Mutual Private Equity; and Charl Drury, CFO, TiAuto Investments.
Marubeni Motor Corporation has acquired South Africa's R4.5 billion-a-year Tiger Wheel & Tyre owner TiAuto Investments from investment firm Carlyle, advised by Alterra Capital Partners, in partnership with Old Mutual Private Equity (OMPE).
Marubeni is a large Tokyo-listed global trading and investment conglomerate in Japan, and the deal for an undisclosed sum, marks one of Marubeni's most significant investments in South Africa and its first entry in the local vehicle parts retail market.
It is also an endorsement of the quality of TiAuto’s management, while also reflecting the strength and international appeal of local enterprises, a statement said Wednesday.
The exit by Carlyle and OMPE ends a decade-long partnership with TiAuto, a business that generates annual combined group and franchisee sales of R4.5bn. TiAuto is a leading multi-brand retailer and wholesaler of tyres, wheels, batteries and automotive products, which operates through its Tiger Wheel & Tyre and Tyres & More outlets.
