PORTFOLIO — BUSINESS SERVICES

Direct Tyre Management (DTM)

Technology-led, environmentally considerate tyre management.

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Key Facts

Initial investment: 28/09/2020

Sector – Business Services

Fund — Buyout Fund IV

Status — Realised

Investment Highlights

  • Appointed experienced chairman, CFO, CTO, COO, divisional MD and procurement manager to supplement the existing management team.
  • Completed a re-finance of the business to support future mergers and acquisitions.
  • Completed the separation of the two main divisions (RTR and DTM) of the business to allow for dedicated sales activity and management.
  • Completed acquisition of Tyrewatch, a technology led tyre pressure monitoring business, broadening its service offering and providing significant cross-sell opportunities to its fleet customers.
  • Supported the further development of IT systems to drive operational efficiencies and service improvements for clients.
  • Introduced dynamic pricing model, enabling the business to react to cost inflation.
  • Exited the business in 2024 with turnover increasing from £30m to £60m.

Partnership Motivation

DTM is a great example of an entrepreneurial business that has seen impressive growth and innovation in its products and services. Steve and the rest of the management team at DTM have created a standout national fleet services business, with strength in supporting complex fleets.

On the back of the investment, we look forward to supporting the team to deliver the many opportunities for value creation that present themselves, including a continued buy and build strategy and the further development of DTM’s services, which includes its strong market position for the delivery of electric vehicles.

Leigh Goodland – CEO of DTM

Leigh was promoted to CEO in 2022 following a successful track record of over 25 years in the mobility sector. He excels in creating value for businesses, and his success is built on creating a winning environment where all of his colleagues are valued and supported to become the best versions of themselves.

“Palatine has been a highly supportive investment partner and its leadership on ESG performance has been key to helping us develop a proposition that enables our customers to make more sustainable choices around how they operate their fleets.
We have grown rapidly from a £30m turnover to a £60m turnover over the last two years by acquiring new business organically and through our ability to be both agile and independent providing customers with insight and recommendations leading to the most sustainable tyre choice.

Leigh Goodland
CEO – DTM

Investment Team