A tyre business founded in Gloucester has secured a £26m tailored financing solution.

The Tyre Group (TTG), the UK's largest independent tyre retailer and wholesaler, agreed the bespoke £26m facility with AURELIUS Finance Company.

The facility incorporates £11m working capital revolver, alongside a £15m property-linked term loan.

Founded in 2000 by Robert Freeman, who sadly passed away in 2021 at the age of 53, and now led by his son Chris, The Tyre Group operates under regional brands including Malvern Tyres, Just Tyres, King David Tyres and County Tyres.

The company has 116 locations across the Midlands and southern England and Wales, with Malvern Tyres branches in Cheltenham, Gloucester and Stroud.

James Marler, director and head of new business at AURELIUS Finance Company, said: "This is another great example of how AURELIUS Finance Company can step in where traditional lenders struggle.

"We listened to management and their advisors, so that we could structure a facility tailored to TTG's operational footprint and cashflow requirements. We priced it competitively and then delivered it with commercial pragmatism. It was a pleasure to work with Chris and The Tyre Group's team, and we're proud to now be playing a part in what promises to be an exciting chapter of growth."

Chris Freeman, CEO of TTG, said: "AURELIUS Finance Company stepped forward with a promise to deliver both facilities in an integrated manner - making the process much more efficient. They moved quickly and efficiently, were highly commercial throughout, and delivered exactly what they had promised.

"This facility will make a real difference as we continue to grow our business, integrate past acquisitions and build on the solid platform that my father put in place. We look forward to a strong partnership with the AURELIUS Finance Company team."

TTG bought Just Tyres, which is based in Milton Keynes and has 39 autocentres around the UK, last year.