MICHELDEVER Tyre Services, which claims to be the biggest operation of its kind in the world, is planning to become even bigger after securing takeover funds.

Having agreed a “debt package” with the Royal Bank of Scotland, the business is looking for “strategic acquisitions” of both wholesale and retail sites in the UK.

Since taking over the business from founder, Tony Todd, in a management buyout in 2006, MTS has pursued a series of acquisitions.

MTS sells more than 2,200 tyres a week, which equates to more than one tyre fitted every minute.

Its Protyre retail chain, which has 35 outlets, is the part of the business which it is looking to grow the most and it also has an established wholesale distribution network of 12 sites around the UK supplying 4,600 retailers.

Paul Fox, chief executive, said: “Since taking on the management of the business, we have almost doubled it in size and we are now looking to accelerate our expansion plans further. This funding package from RBS is critical to enable us to realise the long-term potential for MTS.”