MCB Equity Fund has successfully exited Speedy, an automotive fast-fit services in France to Bridgestone EMEA, a subsidiary of the Tokyo-based Bridgestone Corporation.

Joël Lambert, member of the MCB Capital Markets deal team, said: “This deal demonstrates the ability of MCB Group to structure and execute a leveraged management buy-out in a challenging environment and exit to world class organizations.”

Bridgestone, the world’s largest manufacturer of tyre and rubber products, has acquired 100% of Speedy, subject to approval by the French regulatory authorities.

Eduardo Minardi, Executive Chairman and CEO of Bridgestone EMEA, said: “We consider Speedy to be a strong strategic fit, with a premium customer mix, extended geographical coverage and a focus on service quality. Furthermore, Speedy has a strong brand recognition and an innovative mindset."

Bridgestone will retain the current management team and staff and is expected to use the Speedy platform to expand its European business.

In 2011, MCB Group, a banking and financial services provider in East Africa, financed the acquisition of Speedy, a leveraged management buyout transaction, in a blend of debt and equity through its ever green private equity fund, MCB Equity Fund, and its banking arm, MCB Limited.

Since then, the management team has further consolidated Speedy’s market position by building on its network of repair centers, a growing fleet business and customer base, its innovative and client-orientated culture and an enhanced brand image.

Today, Speedy has 480 repair centers across France, half of which are franchisees.

Speedy sold 1.2 million tyres last year, accounting for 4.5% of the French market.

The seller was advised by MCB Capital Markets (Selvinah Vydelingum, Rony Lam and Joël Lambert) and Raphaël Financial Advisory.

Pierre Guy Noël, CEO of MCB Group, said: “This transaction demonstrates MCB’s ability to support complex cross-border transactions and adds to the growing credentials of our private equity, advisory and international banking teams.”