Carlyle, advised by Alterra Capital Partners, in partnership with Old Mutual Private Equity (OMPE), today announced an agreement to sell TiAuto Investments, the pre-eminent multi-brand retailer and wholesaler of tyres, wheels, batteries and automotive products, which operates through their Tiger Wheel & Tyre and Tyres & More stores, to Japan’s Marubeni Corporation, a large, Tokyo-listed global trading and investment conglomerate.
This transaction marks one of Marubeni’s most significant investment into South Africa and is an endorsement of the quality of TiAuto’s management, while also reflecting the strength and international appeal of local enterprises.
The exit by Carlyle and OMPE ends a decade-long partnership with TiAuto, a business that stands as a market leader in its sector, generating annual combined group and franchisee sales of circa. R4.5bn. During Carlyle and OMPE’s ownership, TiAuto has transformed from a well-known local player into a pan-African operation, with today more than 160 retail outlets across five African countries: South Africa, Botswana, Zambia, Zimbabwe and Namibia. The company’s focus on operational excellence has seen its footprint multiply, and its service offering broadening to include wheel repairs and the sale of quality used tyres.
Eric Kump, Managing Director at Alterra Capital Partners, said: “TiAuto is a world-class Southern African company, and we are pleased that Marubeni is investing to make it a pan-African champion and to continue the commitment we made to creating jobs during our holding period. This represents another successful Alterra exit to an international strategic investor. Congratulations to the entire TiAuto team.”
Jacci Myburgh, Co-Head at Old Mutual Private Equity, said: “For OMPE, this exit represents not just the realisation of a successful investment but evidences the power of partnership and the value created through patient, hands-on stewardship. The management team’s focus on service and operational discipline has set new benchmarks in the industry, and we are confident that Marubeni’s acquisition marks the beginning of an exciting new chapter not only for the business, but also for the sector.”
Alex Taplin, CEO of TiAuto, said: “This is a significant milestone for TiAuto. We are delighted to be joining forces with Marubeni, one of the leading trading firms in Japan with significant experience in the tyre retail sector in Asia. This partnership will help us reach our goal of growing our presence significantly across Africa. I would like to express my thanks to Carlyle and Alterra Capital Partners and OMPE who have been strong partners and have helped us build TiAuto into what it is today.”