So far this year, Colmec, Lapin Kumi, and multiple local tire shops has come together to form a new tire services group, that currently goes under the working name CTS. The company announced Monday that is raised SEK 1.3bn in credit financing. As the next step, CTS is now excited to announce that Göran Bengtsson will join CTS as Head of Sales Sweden. With over 35 years of experience in the tire and automotive industries, he brings unrivalled expertise in driving growth and building strategic partnerships.
Göran joins CTS from Yokohama, where he built the Scandianvian operations from the ground up to one of the company’s most successful businesses globally. Yokohama has under Göran’s leadership established itself as a premium tire market leader in Scandinavia. He has built long appreciated relations to many tire customers across the industry and made him and his team known for a dedicated level of service, second to none.
Göran’s expertise aligns seamlessly with CTS’ mission to innovate and raise the customer experience standard in the tire industry. His recruitment marks an important milestone in building CTS as a new circular customer-centric tire and tire service provider. He will officially start his role at CTS on December 2nd, focusing on growing CTS’ market presence as a go-to tire and fleet service provider.
“We are thrilled to welcome Göran to the CTS team” says Johanna Rundberg, Head of Sweden at CTS. “His unrivalled industry track-record and ability to build long-term trusted relationships will be invaluable as we work to establish a new circular customer-centric tire and tire services provider. Göran joins CTS with the mandate to build a best-in-class customer experience for our tire and fleet customers.”
“After been working more than 35 years in manufacturing company, first Michelin and up to now in Yokohama, I look forward to being on the other side in tyrebusiness. Seeing what CTS are doing and the plan for future makes me excited and I look forward to using my skills and contacts created during whole my tyre life to be a part of this. I will now be more active in Swedish market and I look forward to meet all my old partners and I am looking forward to meet new partners” says Göran Bengtsson.
Johanna Rundberg added, “Göran’s appointment is a testament to CTS’ commitment to top-tier talent and service quality. His leadership will be key to advancing our mission and expanding our impact in the Swedish market.”
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Press contact
Johanna Rundberg, Head of Sweden at CTS
Email: johanna.rundberg@circulartireservices.com
Information about the new group
CTS is the working name for a new circular, customer-centric tire and tire services group. We help vehicle users maximize uptime and mileage by servicing tires in a convenient and life-extending manner. For commercial vehicle tires, we operate a fully circular model – extending the useful life of tires well beyond their normal lifespan.
We are approaching a revenue of EUR 300M by year end 2024 and are home to 700 employees across Sweden, Finland, Norway, and Poland. We operate 4 retreading facilities and 40+ tire shops. Our mission is to keep society moving in a seamless, less wasteful way.
So far this year, Colmec, Lapin Kumi, and several local tire shops have come together to form a new tire services group, which is currently operating under the working name CTS. On Monday the group raised SEK 1.3bn in additional financing. Now, Solings Däck & Bilservice is also joining CTS.
Solings services both heavy vehicles and passenger cars and, since its founding in 2008, has built a strong track record as a valued tire service partner in Söderhamn and the surrounding areas. The company serves local businesses, the municipality, and transportation along the Norrland coast.
“Solings embodies precisely the local service spirit and family-oriented approach we want our workshops to represent. It is also a strategically important workshop for handling coastal traffic in southern Norrland,” says David Boman, CEO of CTS.
“We look forward to joining CTS and the opportunities it provides for growth and further digitalization. It will be exciting to become part of a group with skilled entrepreneurs,” says Lars-Erik “Larsa” Soling.
Solings will continue to operate under the same name and with the same team. Larsa Soling will remain in charge of Solings and will become a co-owner of the new joint group.
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Press contact
David Boman, CEO CTS
Email: David.Boman@circulartireservices.com
Information about the new tire service group
CTS is the working name for a new circular, customer-centric tire services group. We help vehicle users maximize uptime and mileage by servicing tires in a convenient and life-extending manner. For commercial vehicle tires, we operate a fully circular model – extending the useful life of tires well beyond their normal lifespan.
We are home to 700 employees across Sweden, Finland, Norway, and Poland. We operate 40+ tire shops and 4 retreading facilities. Our mission is to keep society moving in a seamless, less wasteful way.
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933) OR IN OR INTO ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW
PRESS RELEASE
Stockholm 18 November 2024
CTS Group, a Norvestor portfolio company, successfully issues senior secured bonds
Circular Tire Services Europe Holding (‘’CTS Group” or “the Company”) is a leading tire services company in the Nordics and Poland, offering a fully circular service for commercial vehicles. The Company is pleased to announce the successful inaugural issuance of senior secured bonds totaling SEK 1.3bn. The transaction marks a significant milestone for the company, providing a strong foundation for future growth driven by M&A and organic initiatives.
Net proceeds from the bond issue will be used to refinance existing debt and for general corporate purposes including M&A. The transaction will further enable CTS Group’s strategy to build a leading circular customer-centric tire services company in Northern Europe.
The bond issue received exceptional demand from high-quality institutional investors and the transaction was substantially oversubscribed. The bonds have a tenor of 5 years, a floating interest rate of STIBOR 3 months plus 525 basis points and will mature on 26 November 2029. The Company will apply for admission to trading of the new bonds on the corporate bond list of Nasdaq Stockholm within 12 months.
“We are thrilled with the success of our first bond issue”, says David Boman, CEO at CTS Group. “The strong and broad investor interest is a testament to our unique market position and business model and provides confidence in our strategy to build the leading circular, customer-centric tire services group. With additional funds in place, we can accelerate M&A and strategic investments.”
ABG Sundal Collier, Pareto Securities and SEB acted as joint bookrunners in connection with the issue of the new bond. Gernandt & Danielsson has acted as legal counsel for the joint bookrunners, and White & Case has acted as legal counsel for CTS Group.
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For further information, please contact:
David Boman, CEO, CTS Group
Email: david.boman@circulartireservices.com
Tor Erling Gunner, Partner, Norvestor Advisory
Email: te.gunnerod@norvestor.com
About CTS Group
CTS is the working name for a new circular, customer-centric tire services group. We help vehicle users maximize uptime and mileage by servicing tires in a convenient and life-extending manner. For commercial vehicle tires, we operate a fully circular model – extending the useful life of tires well beyond their normal lifespan.
We are home to 700 employees across Sweden, Finland, Norway, and Poland. We operate 40+ tire shops and 4 retreading facilities. Our mission is to keep society moving in a seamless, less wasteful way.
So far this year, Colmec, Lapin Kumi, and several local tire shops have come together to form a new tire services group, which is currently operating under the working name CTS. Now, Nacka-Värmdö Däckdepå is joining the new group.
Nacka-Värmdö Däckdepå offers sales of tires and rims, service of tires, and tire hotel for both passenger cars and heavy vehicles. The company was founded in 1993 and has since then been a valued tire workshop in the Stockholm region.
“We are happy to welcome such a great business as Nacka-Värmdö to the group and to expand our presence in the Stockholm region, which is an important strategic area,” says David Boman, CEO of CTS.
“We look forward to becoming part of CTS and to develop our business and continuing to be a loyal service partner to our customers,” says Magnus Lundström and Ola Nyman, owners of Nacka-Värmdö Däckdepå.
Nacka-Värmdö Däckdepå will continue to operate under the same name. Magnus Lundström will continue to lead Nacka-Värmdö Däckdepå and will become a co-owner in the new joint group.
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Press contact
David Boman, CEO CTS
Email: David.Boman@circulartireservices.com
Information about the new tire service group
CTS is the working name for a new circular, customer-centric tire services group. We help vehicle users maximize uptime and mileage by servicing tires in a convenient and life-extending manner. For commercial vehicle tires, we operate a fully circular model – extending the useful life of tires well beyond their normal lifespan.
We are approaching a revenue of EUR 300M by year end 2024 and are home to 700 employees across Sweden, Finland, Norway, and Poland. We operate 40+ workshops and 4 retreading facilities. Our mission is to keep society moving in a seamless, less wasteful way.
So far this year, Colmec, Lapin Kumi, Centrala Gummi, and several local tire shop owners have come together to form a new tire services group, which for now operates under the working name CTS. Now, Jocke Sjödin’s Däckshop (“Jockes Däckshop”) in Sollefteå is also joining the new group.
Jockes Däckshop in Sollefteå takes care of its customers’ overall tire needs by offering tires/wheels, service (including mobile service), and storage. Since 1979, Jockes Däckshop has been a leading tire shop in the region and is highly appreciated by both truck and passenger car customers.
“We are pleased to welcome Johan “Jocke” Sjödin and his entire team. Jocke has built a prominent workshop in the region and shares CTS’ focus on high customer service and providing a good workplace for his employees. Jocke is exactly the type of entrepreneur we want on our team,” says David Boman, CEO of CTS.
“We look forward to becoming a part of CTS and taking advantage of the opportunities it will give us to expand our offerings to our customers and to continue developing the workshop,” says Johan “Jocke” Sjödin, owner of Jockes Däckshop.
Jockes Däckshop will continue to operate under the same name, with the same team. Jocke will continue to lead the tire shop and will become co-owner in the new joint group.
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Press contact
David Boman, CEO CTS
Email: David.Boman@circulartireservices.com
Information about the new tire service group
CTS is the working name for a new circular, customer-centric tire services group. We help vehicle users maximize uptime and mileage by servicing tires in a convenient and life-extending manner. For commercial vehicle tires, we operate a fully circular model – extending the useful life of tires well beyond their normal lifespan.
We are approaching a revenue of EUR 300M+ by year end 2024 and are home to 700 employees across Sweden, Finland, Norway, and Poland. We operate 35+ workshops and 4 retreading facilities. Our mission is to keep society moving in a seamless, less wasteful way.
So far this year, Colmec, Lapin Kumi, and several local tire shops have come together to form a new tire services group, which is currently operating under the working name CTS. Now Nödinge Däckservice is joining the new group.
Nödinge Däckservice was started on Rödjans väg in Nödinge in October 1990. With a strong customer focus, the company has succeeded in building a broad and loyal customer base and today serves both private individuals and companies with everything in tires, rims and tubes.
“I’m very pleased to welcome Patrik, Jan and the team at Nödinge Däckservice. This workshop is an important addition for our growth strategy along the west coast and we look forward to developing this further with Jan, Patrik and the Nödinge team,” says David Boman, CEO of CTS.
“We are very happy to finalise this transaction. Our customers will greatly benefit from the many strengths that CTS brings and we look forward to contributing to the group’s growth in the Gothenburg area in the future,” say Patrik Pettersson and Jan Wågander, co-owners of Nödinge Däckservice.
Nödinge Däckservice will continue to operate under the same name, with the same team. Patrik Pettersson will continue to manage the business and becomes a partner in the new joint group.
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Press contact
David Boman, CEO CTS
Email: David.Boman@circulartireservices.com
Information about the new tire services group
CTS is the working name for a new circular, customer-centric tire services group. We help vehicle users maximize uptime and mileage by servicing tires in a convenient and life-extending manner. For commercial vehicle tires, we operate a fully circular model – extending the useful life of tires well beyond their normal lifespan.
We are approaching a revenue of EUR 300M+ by year end 2024 and are home to 700 employees across Sweden, Finland, Norway, and Poland. We operate 35+ workshops and 4 retreading facilities. Our mission is to keep society moving in a seamless, less wasteful way.
So far this year, Colmec, Lapin Kumi, and several local tire shops have come together to form a new tire services group, which is currently operating under the working name CTS. Now, Däckhuset i Norrland, one of Northern Sweden’s most innovative and service-oriented tire shops, is joining the new group.
Däckhuset i Norrland serves both commercial vehicles and passenger cars and has since its inception in 2008, built a strong track record as a valued tire service partner in Skellefteå and surrounding areas. The company has grown at a pace rarely seen among tire shops. Däckhuset i Norrland has also gained recognition for its continuous innovation, having conducted pilots on fully automated washing and stacking solutions for commercial vehicle tires, among other initiatives.
“At Däckhuset, there is a customer service spirit and an ability to innovate that you find at few other tire shops. I’m impressed by the team at Däckhuset and look forward to supporting Stefan and his team on their continued growth journey,” says David Boman, CEO of CTS.
“At Däckhuset, we have always strived to go the extra mile for our customers and to nurture strong relationships, which has led to record growth in recent years. With this new partnership, we can grow Däckhuset even further with more resources and expertise in the heavy vehicle sector,” says Stefan Strandberg, owner of Däckhuset i Norrland.
Däckhuset i Norrland will continue to operate under the same name and with the same team. Stefan Strandberg will continue to lead Däckhuset i Norrland and will become a co-owner in the new joint group.
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Press contact
David Boman, CEO CTS
Email: David.Boman@circulartireservices.com
Information about the new tire services group
CTS is the working name for a new circular, customer-centric tire services group. We help vehicle users maximize uptime and mileage by servicing tires in a convenient and life-extending manner. For commercial vehicle tires, we operate a fully circular model – extending the useful life of tires well beyond their normal lifespan.
We are approaching a revenue of EUR 300M+ by year end 2024 and are home to 700 employees across Sweden, Finland, Norway, and Poland. We operate 35+ workshops and 4 retreading facilities. Our mission is to keep society moving in a seamless, less wasteful way.