Bringing torque to the tyre industry
Tyre distribution sounds traditional. But, trust us, this story is anything but.
Stian Tuv, Director at Altor
When looking for possible implications driven by the shift from fossil fuelled cars to electrical vehicles, the team at Altor made an interesting discovery. Due to the higher torque in an electric car, tyres and breaks would wear out more quickly than when used by their petrol driven forebearers. Breaks was a market too small to work with. But the tyre distribution industry was fragmented and growing more complex by the day, a business that was ripe for a shake-up and consolidation.
“Looking around the tyre distribution companies in the Nordics, after a while we found a real gem. A company that had focused on developing a fundamentally different model of working, based on their own proprietary software platform. Their ways of working meant margins were clearly stronger than among peers. And, even better, it was possible to export this software as the base for other companies in the industry,” says Stian Tuv, Director at Altor.
The company with the proprietary software for tyres was Swedish distributor Gummigrossen, acquired by Altor in 2019. Building on the software developed by Gummigrossen new partnerships could quickly change the ways of working, lowering cost and increasing margins and profit. The platform automates all the company processes from warehouses via logistics to customer communication.
“The IT-platform is a very important part of the success of the Group we have built, Nordic Tyre Group. It automates work, and it has been the premier tool of integrating new partnerships into the Group. It has made integration much easier than it has been in many other Groups we have built. The platform is really the backbone of the whole business. We ended up also purchasing the IT-consultants responsible for the platform, so today we have a strong in-house development division,” says Stian Tuv, Director at Altor.
After the acquisitions in Sweden, followed by partnerships with RengasDuo and KM-RRR in Finland, Starco, Gummi-Centralen, Dekkteam and Dekk1 in Norway, as well as Lattako with business in all the Baltic states, NTG is the leading distributor and retailer for tires aimed at the aftermarkets for both private cars and trucks in the Nordics and Baltic region.
Stian Tuv, Director at Altor“What make these deals true Altor signature cases is the string of partnerships we have set up with the founders of all the companies we have acquired along the way.”
Published: Aug 07 2022
Companies
Related
Conversation | Case
An innovative partnership
Transcom enters collaboration with Silo AI to implement the opportunities of AI in the digital customer service industry.
Conversation | Case
Driving success
The leading tyre distributor Nordic Tyre Group reports strong growth accelerated by Electrical Vehicle transition.
Conversation | Case
OX2 – the wind of change
There is an urgent need to change our habits and energy-use, as society increasingly moves away from high-carbon energy sources - the demand for alternative sources increase. Wind and solar farms are critical for this shift.
Conversation | Case
Supplying the supply chain
Starting out small in Aalborg, Denmark in the early 1950’s – Wrist Ship Supply has grown to become a true global leader with offices across the globe. Today, Wrist is creating digital solutions previously unknown to the shipping world.
Conversation | Case
Never ending energy
Sailing on strong tailwinds, OX2 has taken on one of the great challenges of our time. To make renewable energy available while generating benefits for both environment and investors.
News | Press release
20 Dec 2024
Altor divests Nordic Tyre Group to Axcel
Conversation | Case
The multiplier effect
This is key to our thinking around Altor Communities; that we can have a multiplier effect through the initiatives we work with and support through our expertise, capital, and network.
Conversation | Case
Supporting challengers and change-makers
The ‘Altor Communities’ were launched in 2023 with the purpose to utilize our network, engagement model, knowledge and capital to drive positive societal impact beyond our investment and ownership activities.
Conversation | Case
Revolutionizing the steel industry
How digitalization will enable completely different ways of working in steelmaking
Conversation | Case
Fast internet with a smart footprint
SeenThis has developed technical solutions to help tackle the issue of carbon emissions coming from our data usage.
Conversation | Case
Trioworld doesn’t sleep on success
In a new collaboration with infrastructure company Nevel - Trioworld is turning waste heat into energy
Conversation | Case
A network for Scandinavian design driven brands
Scandinavian design graces homes all over the world. Now Altor has formed a network of such companies under one umbrella: Network of Design (NOD). But, as always, the story started somewhere completely different.
Conversation | Perspective
Building the green transition
We can’t be dependent on fossil fuels in the future. Altor plans to be a part of Europe’s green transition, driving an industrial revolution and helping the whole continent decarbonize.
Conversation | Case
All about connecting
The Nordic Leisure Travel Group: Everyone on board to change.
Conversation | Case
The power of the sun
Founded on a strong belief that solar power is the best solution for most homes, Svea Solar has quickly proven the power of the sun and is ready for the next step on their journey.
Conversation | Spotlight
Driving the green energy transition
Watch the interview with Matilda Elfving Hauan, Director, talking about partnering up with Svea Solar and OX2, two companies building new green business within the energy industry.
Conversation | Case
Stronger together
Norican's solutions improve customer productivity by reducing scrap and carbon emissions.
Conversation | Case
Happier and healthier people
SATS, stepping up for health with challenges brought on by modern society.
Conversation | Case
Saving resources
Haarslev – making sure what goes around comes around.
Conversation | Case
Making plastics last
Trioworld is on its way to becoming the most sustainable option in the plastic film industry thanks to a strong focus on circularity in plastics.
Conversation | Case
Partnering with two German Mittelstand families
Our long tradition of partnerships with founding families continues into new geographies. Kaefer has an amazing track-record for more than 100 years, now Altor and SMS Group join as co-owners.
Conversation | Case
The peace of mind business
Automating Accounts Payable may sound like a simple fix. But building digital solution and services that fit the customers' needs, and are easy to use, demands knowledge of both software and people.
Conversation | Case
Shaping airflow for future generations
Inspired by the first plastic cooling fan he ever saw, Finn Sigurd Andersen started a journey taking a local Danish trading company and turning it into a global leader in engine cooling, with a wide range of products.
Conversation | Case
Slow fashion – fast growth
Toteme was founded in 2014 by the Swedish couple Elin Kling and Karl Lindman. It has evolved into a strong and iconic Swedish brand focused on minimalistic trans-seasonal design based on a uniform concept.
Conversation | Case
Raw talent
Can, what looks like a traditional PE-fund, be a partner for a young indie-developer producing the most artistically inspired games out there? The owners of Raw Fury thought so and partnered up with Altor for the next step of their journey.
Conversation | Case
In the mood
Located in a music studio complex in the heart of Stockholm, Audiowell comes with a combined mission to increase the quality of lifestyle music and helping more professional songwriters, musicians and creators live off their music.
Conversation | Case
Turning ordinary tap water into tasteful experiences
Starting out as an engineering and design company aiming to make everyday objects better and more beautiful, Aarke is now embarking on a journey towards a greener future with a new subscription service at its core.
Conversation | Case
Breaking the glass-ceiling
The Stockholm Stock Exchange was founded in 1863, but the first female CEO of a listed company emerged first in 1987. The first female founder taking her company public as CEO took even longer, in 2021 Pernilla Nyrensten received that title.
Conversation | Case
Accelerating human-machine collaboration
Looking to build an artificial intelligence powerhouse in the Nordics, Altor found a company already holding the title. And through a new partnership, Silo AI and Altor will take their cutting-edge technologies even further.
Conversation | Case
A community of fun-dining experiences
We can all use more social life. And the trends points to people eating out more often and at the same time enjoying entertainment and activities. Now Altor has created a community of restaurants in Social Eatertainment Group.
Conversation | Case
Taking action when needed
When Covid hit, at a time when hospitals needed them the most, global supply chains for medical protective gear stopped working. Trioworld stepped up quickly and filled one important gap. But have we learned the lessons from this situation?
Conversation | Case
A brand like no other
With the factory running non-stop since 1879, Dale of Norway is one of the home country’s best-known brands. The premium outdoor apparel appealed to Norwegians and tourists alike but was hit hard when Covid shut down travel.
Conversation | Case
AI as the engine for growth
Meltwater was the world’s first pure online media monitoring company. But since inception in 2001 the information landscape has changed radically, with social media often having larger impact than the original source.
Conversation | Case
Being smart about data usage
Speeding up the internet with a low carbon footprint in mind.
Conversation | Case
Charged for the future
CTEK – building the necessary charging infrastructure.
What we’re reading
News | Bloomberg
06 Jan 2024 — bloomberg.com
The $200 Billion Video Game Industry Is a Climate Opportunity
News | The Economist
17 Dec 2023 — economist.com
Which economy did best in 2023?
News | Bloomberg
04 Aug 2023 — bloomberg.com
Heat Pumps, Electric Cars, Home Solar:
The Climate Dads Have Arrived
News | Bloomberg
25 May 2023 — bloomberg.com
How Silicon Valley Got Into Investing in Climate Tech