The businesses have been acquired by Shehzad Chaudhri and Waqar Ul Hassan, who take over from founder Paul Derbyshire and his wife Nicola as the couple retire after more than two decades running the company. The existing management and staff structure will remain in place, with the day-to-day operation of the business continuing largely unchanged.

Established in 2004, Cheadle Tyre & Auto is a full-service motor garage offering servicing, MOTs, diagnostics and repairs, including on electric and hybrid vehicles, from its premises in Cheadle Hulme, Cheshire. SK8 Tyres, operates alongside as a mobile tyre-fitting service for the local area. Together the businesses have built a loyal, repeat customer base over more than twenty years of trading.

As well as protecting the existing team, the deal is expected to create a number of new roles as the business grows, with the first two roles added within the first quarter of the acquisition. The new owners plan to extend opening hours, invest in the businesses’ digital presence and marketing, and grow the wider service offering.

The deal was introduced to River Capital by Paul Mak of Pomegranate Corporate Finance.

Chris Carter, Investment Manager at River Capital, said:

“This is a longstanding, well-regarded local business with a strong trading history, and the priority for us was structuring a deal that protected the team already in place while giving Shehzad and Waqar the backing to grow it. It’s exactly the kind of transaction we can and like to support whilst safeguarding jobs today and creating new ones for the future.”

Shehzad Chaudhri, Director Cheadle Tyre said:

“Cheadle Tyre & Auto and SK8 have a fantastic reputation built up over more than twenty years, and our focus is on protecting that while helping the team grow the business further. River Capital worked closely with us at each step of the process to ensure that the funding and the structure supported both our future aspirations for the business and provided a solution that worked for all parties involved.”

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