A long-established Middlesbrough manufacturing firm has returned to local ownership following a management buy-out backed by a six-figure investment.
Long-serving employees Katie Fryer and Rob Ferguson have acquired Flat Free Tyres—which operates under the names Greencare Mobility and Greentyre—from the AM Healthcare Group.
The transaction was supported by the £20m Teesside Flexible Investment Fund, a venture backed by FW Capital and the Teesside Pension Fund.
Rob has been with the company for 27 years, while Katie has contributed to the business, which has been in operation for over 30 years, stands as the UK’s final mainstream manufacturer of wheelchairs and serves both private clients and the NHS.
Its sister brand, Greentyre, produces microcellular polyurethane puncture-proof tyres for the bicycle, mobility, and industrial markets globally.
Katie said bringing the business back into local ownership was particularly important to the new management team.
“Greencare and Greentyre are well-established brands with a longstanding reputation in Teesside,” she said.
“It has a rich heritage of manufacturing custom-built solutions that support people’s wellbeing.
“When the opportunity arose for Rob and I to acquire the business, we jumped at the chance.
“Bringing the business back into local ownership is important to us and we have ambitious plans to grow the business.
“The whole team work together like a family and we’re committed to bringing back a personal touch to the business moving forward.”
Rob noted that his 27-year tenure provided him with an intimate knowledge of both the company and its specialized market.
“Having worked here for over 27 years, I’m extremely passionate about ensuring the best for the business, staff and customers,” he said.
“Katie and I understand the business and what is needed to scale up and advance.
“It’s a very rewarding sector to operate in and we are looking forward to continuing to support our existing customers and welcome new ones.”
The management buy-out was financedernative to traditional lending for companies seeking to invest and expand
Rob praised the support provided by FW Capital senior investment executive Alex Gent, noting that the personal approach helped facilitate the deal.
“Having someone on-site to pick up and feel the products we manufacture, to speak to the staff and see the processes we carry out gave us confidence we were working with a company that deals with people and not just numbers,” he said.
“Almost all other finance options were impersonal and faceless, but dealing with FW Capital was really refreshing.
“Without their support the dream was unlikely to become a reality for us.”
Alex stated that the long-standing association Katie and Rob have with the firm leaves them well-positioned to drive the business forward.
“Rob and Katie have been with the business since before the acquisition by AM Healthcare Group, so they know the business inside out,” she said.
“It’s a fantastic opportunity for them to bring it back under local ownership.
“Their passion to grow the business is matched by their long-standing experience in this sector and I wish them well for the future.”
Councillor John Kabuye, chair of the Teesside Pension Fund Committee, expressed his support for the agreement.
“It’s great to see Greencare return to local ownership, and the passion Katie and Rob have for their business and its customers shines through,” he said.
“The Teesside Flexible Investment Fund was set up to support and nurture businesses just like this, with lasting benefits for the local economy for many years to come.”
The £20m fund aids economic development across Redcar and Cleveland, Hartlepool, Stockton, and Middlesbrough, offering loans between £100,000 and £3m.
