Geldards Corporate team advised Gloucestershire based Watts of Lydney Group Limited in relation to the sale of its tyre division which manufactures, distributes and fits industrial tyres through companies in the UK, Europe and the Americas.

This is the latest in a series of transactions in which Geldards have acted for Watts of Lydney Group Limited over the last three years and is an important step in the refocusing of its business.

Commenting on the deal Geraint Tilsley, Partner in Geldards’ Corporate team in Cardiff who led on the deal, said “It is essential, especially in the current economic climate that businesses concentrate on what is core to their business. This deal allows Watts of Lydney Group to concentrate on further strengthening its successful Truck and Van sales, service and parts business and its UK manufacturing companies.”

John Thurston Chairman of Watts of Lydney Group said: ‘’We have been providing services to the transport industry for over 100 years and my grandfather was developing diesel engines in the 1920’s. This is the beginning of a new Chapter in the long and unique history of the Watts Group. With £50m of sales and 300 committed employees we have a firm foundation on which to build upon our market leading businesses in the UK.”