A Skelmersdale-headquartered tyre management specialist, which is backed by the same private equity firm behind the likes of The Alchemist and Gusto, has made a new acquisition.
Palatine Private Equity-backed DTM has snapped up TyreWatch, a provider of real-time tyre monitoring technology.
Based in Basingstoke, TyreWatch provides digital tyre management services to monitor and manage the wheels and tyres of HGVs and public service vehicles.
Established in 2017, it has grown to support clients across the UK, Europe, the Middle East, Africa and Australia
James Winterbottom, senior investment director at Palatine, said: "This acquisition represents an extremely exciting and natural pairing within the tyre management industry.
"Palatine is delighted to bring together the knowledge, experience and market-leading technology of these two businesses, while strengthening our own overall strategy of building businesses that achieve sustainability advancements alongside profitable growth."
John Matthews, managing director for DTM, added: "DTM & TyreWatch have a shared strategy and passion to support our customers in increasing vehicle productivity, maintaining compliance and pro-actively minimising the environmental impact of their fleet operations through reduced waste and improved fuel consumption.
"Our customer-first ethos coupled with a strong team culture means the combined business will create further opportunities for customers, colleagues and suppliers and we are looking forwards to our next period of success."
