Swedish car dealer group Hedin has bought Luton-based alloy wheel refurbishment specialist RRT.
It’s a further expansion in the UK for Hedin, which snapped up the Stephen James Group in July that saw it add the BMW and Mini retailer’s new and used car sales outfits to its portfolio.
RRT, which has a 13-strong team, handles more than 20,000 wheels a year at its two warehouses on a 1,300 square metre site that includes an automated pre-treatment and paint plant.
Anders Hedin, founder and CEO of Hedin Mobility Group, said: ‘We are pleased to expand our circular business activities through the acquisition of RRT.
‘With considerable investments in plant and machinery and a true sense of business acumen and customer service, they have positioned themselves at the forefront of the European alloy refurbishment industry.
‘This is a business segment that will only grow in importance as the focus on sustainable use of resources continues to increase.’
RRT owners David and Dominic Gross said in a statement: ‘We are excited to join Hedin Mobility Group and to work together towards a sustainable future and embrace the expansion opportunities within our developing businesses.’
Transfer of the business, with the acquisition of all RRT’s shares, took place on November 30 for an undisclosed sum.
In October, Hedin and Penske, which had teamed up to try to buy Pendragon, withdrew from the race after Lithia increased its offer for the company.