TyresOnTheDrive.com Secures £8m Investment from Halfords
Thursday 19 January, 2017
Today we’re delighted to announce that TyresOnTheDrive.com, a True Capital business, has secured £8m investment from Halfords, the UK’s leading retailer of motoring, cycling and leisure products. The investment is part of a deal which will see both companies work on a number of initiatives to enhance the breadth, depth and convenience of the services and products available to both business’ customers.
At True Capital we look to invest in companies whose business models represent the future of the retail and consumer sector. In 2014, we identified TyresOnTheDrive.com as a company with the potential to transform the tyre fitting industry. Our deep retail network and excellent relationship with Halfords’ management team allowed us to pair two companies with the potential to work together to create significant value. We are confident that the partnership with Halfords will allow TyresOnTheDrive.com to further develop its market-leading, customer-first, technology-led proposition.
True Capital will continue to work alongside both management teams in the coming months to help further accelerate Tyres’ already exceptional growth.