Nordic Tyre Group is the largest tyre wholesaler in the Nordics and Baltics, serving as an integral part of the value chain in the aftermarket between tyre manufacturers and more than 10,000 customers, including tyre retailers, car dealers, automotive workshops and online platforms. The company was founded in 2019 through the merger of two tyre wholesalers, Gummigrossen in Sweden and RengasDuo in Finland, and today holds leading positions across six markets with a unique technology-driven business model based on a proprietary software platform. The group generates revenue of more than SEK 4 billion and employs around 500 people.
“We’re thrilled to partner with Nordic Tyre Group, a trusted one-stop shop for customers, offering the widest range of tyres combined with industry-leading logistics, a proprietary technology platform and exceptional service standards,” says Axcel Partner Asbjørn Hyldgaard. “We look forward to working closely with Nordic Tyre Group’s strong management team and employees to further grow its position in the Nordics and Baltics and drive expansion into new markets, establishing Nordic Tyre Group as a European player in its sector.”
Expansion plans in a growing market
Nordic Tyre Group operates in a large, resilient and growing market for replacement tyres, driven by strong supportive trends such as the transition to electric vehicles, increased regulatory requirements and a shift in the industry towards independent wholesalers.
“The partnership with Axcel marks an exciting new chapter for us,” says Nordic Tyre Group CEO Patrick Bergander. “Axcel’s expertise in the sector and strong track record of building European market leaders provide Nordic Tyre Group with a solid foundation for continued growth and capacity to expand further into Europe, enabling us to deliver excellent services to even more customers in the years ahead.”
Axcel is acquiring a majority stake in Nordic Tyre Group from Altor, and the investment is being made through Axcel VII. The transaction is subject to customary regulatory approvals and is expected to be completed during H1 2025.