Murfitts Group, a nationwide tyre recycling firm, has been acquired by European Tyre Enterprise Ltd (ETEL), the owners of the Kwik Fit retail chain.
Muriftts produce rubber granulated products from processing more than 20 million used consumer car tyres on an annual basis. The business is based in Suffolk and operates across the UK with processing sites in Manchester, Birmingham and Scotland. 100% of the business was sold to ETEL with Mark Murfitt, the Managing Director, staying on to continue leading the business.
ETEL are a large European corporate group and generates annual revenues of more than £1bn per year.
The deal was led by David Scrivener with Ben Croston and Robert Leggett providing corporate finance and tax advice to the Company and Mark Murfitt.
David Scrivener commented that “Murfitts have been a client of Ensors for a number of years and it was a privilege to work with Mark and Jayne on this deal. Under Mark’s continued leadership I am sure the business will continue to expand with ETEL’s support”
