Actis invests in African tyre distributor AutoXpress
Actis has made a 36 per cent equity investment in the AutoXpress group, an East African tyre wholesaler and retailer.
Operating through 20 company-owned stores in Kenya and Rwanda, AutoXpress is the key distributor and retailer of leading tyre, battery and suspension brands, including Pirelli, Dunlop, Marshal, BKT, KYB and Energizer.
Servicing both corporate customers and the fast growing Kenyan retail market, AutoXpress is a third generation family business.
Peter Schmid, head of private equity at Actis, says: “AutoXpress is a compelling entrepreneurial business that meets a core consumer need: access to quality tyres, automotive parts and services in convenient locations. In partnership with the management team, we intend to accelerate AutoXpress’s expansion across East Africa to become the leading Pan-regional tyre and auto-parts business.''
Sandeep Shah, managing director of AutoXpress, says: “Actis’s proven track record, industry experience and regional insights make them the right investor to support AutoXpress in its next stage of growth in East Africa, with additional stores planned for Kenya and our imminent entry into the Tanzanian market. We look forward to working with Actis's in-house value creation group to assist in implementing our market strategy of expanding the products and services that our customers need.”
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