Travers Smith LLP has advised Caledonia Investments plc ("Caledonia") on its acquisition of Direct Tyre Management Limited ("DTM"), the UK’s leading independent provider of outsourced tyre management services to fleet operators.
The management team of DTM has reinvested alongside Caledonia to acquire 100% of the business from investors including Palatine Private Equity.
Founded in 2004, DTM provides specialist, independent outsourced tyre management services. DTM has consistently delivered year-on-year growth with a revenue CAGR of c.16% over the last 15 years.
The Travers Smith team was led by Private Equity & Financial Sponsors Partners Adam Orr and Alex Dixon, Senior Associate Rachel MacArthur and Associates Tiarnan McKeown, Alexandra Dawson, Ollie Creamer and Will Legood. Specialist tax advice was provided by Partner Simon Skinner.
Travers Smith has acted for Caledonia for a number of years having previously advised on its acquisitions of Stonehage Fleming and Cooke Optics.
