DTM acquires TyreWatch
UK tyre management company DTM has acquired TyreWatch, based in Basingstoke (Hampshire). Tyrewatch is a specialist in real-time tyre monitoring. DTM said the deal would enable it to offer services better tailored to specific customer needs.
The TyreWatch system uses intelligent solutions to detect issues on wheels and tyres, primarily of trucks and buses, before they become problems, in fact, even before they become visible. The company was established in 2017 and has customers in Europe, Australia, the Middle East, and Africa.
The cost of the acquisition has not been disclosed. The deal was backed by Palatine Private Equity, which hailed it as ‘well-timed’, since the tyre industry is increasingly focusing on the reduction of cost, downtime and environmental impact.