Nordic Tyre
Group

We are excited to announce a change of ownership by welcoming Axcel as our new majority owner. Together, Nordic Tyre Group and Axcel aim to further strengthen the company’s position in its core regions while expanding into new European markets.

Nordic Tyre Group (NTG) is the largest tyre wholesaler in the Nordics and Baltics, serving as an integral part of the value chain in the aftermarket between tyre manufacturers and more than 10,000 customers, including tyre retailers, car dealers, automotive workshops and online platforms. The company was founded in 2019 through the merger of two tyre wholesalers, Gummigrossen in Sweden and RengasDuo in Finland, and today holds leading positions across six markets with a unique technology-driven business model based on a proprietary software platform. The group generates revenue of more than SEK 4 billion and employs around 500 people.

“Nordic Tyre Group was established with the ambition to build the leading independent tyre wholesaler across the Nordics and Baltics and we have worked together with Altor to realize that mission” says Nordic Tyre Group’s CEO Patrick Bergander. “The change of ownership to Axcel marks an exciting new chapter for us. Axcel’s expertise in the sector and strong track record of building European market leaders, provide Nordic Tyre Group with a solid foundation for continued growth and capacity to expand further into Europe, enabling us to deliver excellent services to even more customers in the years ahead.”

“We are thrilled to partner with Nordic Tyre Group, a trusted one-stop-shop for customers, offering the widest range of tyres combined with industry-leading logistics, a proprietary technology platform and exceptional service standards,” says Axcel Partner Asbjørn Hyldgaard. “We look forward to working closely with Nordic Tyre Group’s strong management team and employees to further grow its position in the Nordics and Baltics and drive expansion into new markets, establishing NTG as a European player in its sector.”

“Nordic Tyre Group has grown from a tech-enabled challenger in Sweden to become the leading independent tyre wholesaler across the Nordics and Baltics. We are truly impressed by the achievements of the management team and employees, and we are proud to have been part of this journey. We look forward to seeing the company continue its growth journey together with Axcel” says Stian Tuv, Principal at Altor

About Nordic Tyre Group AB
Nordic Tyre Group is the leading independent tyre distributor across the Nordic and Baltic markets. The company was founded in 2019 through the merger of Gummigrossen in Sweden and RengasDuo in Finland. Since then, the Group has expanded to Norway and the Baltics through acquisitions of Starco, Gummi-Centralen, Dekkteam, Dekk1 and Latakko, and is today present across six markets.

About Axcel
Founded in the Nordics in 1994, Axcel is a leading private equity group investing across Northern Europe, with a focus on four sectors: Technology, Business services & Industrials, Healthcare and Consumer. Our team across Copenhagen, Stockholm and Frankfurt draws on 30 years of experience in building market leaders through a collaborative mindset and a structured approach to value creation. Axcel has raised seven funds with committed capital of more than EUR 4.1 billion from Nordic and international investors. We currently own 19 companies and have made a total of 72 platform investments, over 375 add-on acquisitions and 53 exits. For more information, visit www.axcel.com.

About Altor
Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Wrist Ship Supply, Trioworld, Eleda, OX2 and Nordic Climate Group.