Caledonia Investments buys majority stake in DTM for £55m

Caledonia Investments said it had paid £55m to buy a majority stake in Direct Tyre Management, a provider of outsourced tyre management services to fleet operators.

The management team has reinvested alongside Caledonia to acquire 100% of the business from investors including Palatine Private Equity, Caledonia said on Monday.

Headquartered in Blackpool, DTM has more than 100 employees and serves around 250 fleet customers with 285,000 vehicles and 1,300,000 tyres under management.

Reporting by Frank Prenesti for Sharecast.com