LONDON (dpa-AFX) - Caledonia Investments plc (CLDN.L) has invested 55 million pounds to acquire a majority stake in Direct Tyre Management, an independent provider of outsourced tyre management services to fleet operators in the UK. Headquartered in Blackpool, DTM provides specialist, independent outsourced tyre management services. The Group said the management team has reinvested alongside Caledonia to acquire 100% of the business from investors including Palatine Private Equity.
Tom Leader, Caledonia's Head of Private Capital, said: 'DTM's consistent track record of revenue growth and cash generation, together with its market leading position, make the Business an exciting addition to our Private Capital investment portfolio.'
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