Completed sale
How Turnpike Tyres Vehicle Maintenance & Hire Was Sold to Babak Rajabzadeh
Knightsbridge assisted the sale of a tyre supply & fitting specialist in just three months… Describing itself as ‘Fareham’s Leading Independent Specialist Tyre Business’, Chambers Portfolio 1, which trades as Turnpike Tyres, has operated since 1959. Its services include new tyre installing, wholesale car tyres, van batteries, alignment, rim fills, balance fittings, and puncture repairs. Leanne Boulding, Knightsbridge Operations Director, orchestrated the company’s sale, discussing its key selling points: “Turnpike is a long standing tyre provider and was offered for sale due to the retirement of the owner. Operating from highly visible leasehold premises, it is ideally located and has significant scope for growth. It therefore makes for an ideal bolt-on.” Two offers were tabled for owner Martin Chambers, with Leanne explaining: “Ultimately a sale of the assets was negotiated as the company had ceased to trade, so the equipment was sold and then passed over to our sister company Quantuma for liquidation.” The successful bid emerged from Babak Rajabzadeh, a local entrepreneur who will run the business, who rated Knightsbridge as providing a 5-star service, commenting: “Leanne was brilliant, she was always available to help with all enquiries and a great negotiator.” The deal was wrapped up in just three months of going live on the market. We wish a happy retirement to Martin, and the very best for Babak and the future of Turnpike under his ownership.