Micheldever Tyres, the UK’s largest tyre distributor, has bought two more firms and announced an increase of its existing financing facilities.

New and significant additional finance has been provided by banks, GE Capital, HSBC, Royal Bank of Scotland and Santander UK.

The deal will enable Micheldever Tyres to continue its strong growth with new acquisitions.

The firm has recently bought the Tyreland and Treble B brands.

Established in 1972 as a single site in Micheldever, near Winchester, where the head office remains, the business has grown to be the UK’s largest tyre distributor and, under the Protyre brand, the fourth largest tyre service centre operator by volume.

Now employing 1,100 people, it sold six million tyres in the 12 months to March 2011, generating £300m in revenue. The company was recently ranked 92nd in The Sunday Times Fast Track 250.

Paul Fox, chief executive, and Richard Sawney, finance director, completed a management buyout in 2006 supported by Graphite Capital, which remains a majority shareholder in the business.

With the addition of Jon Cowles, acquisition director, the company has further grown its retail network, more than doubling the number of sites since the original transaction.

Mr Fox said: “We are very grateful to RBS for their continued support, and to our three new banks, GE Capital, HSBC and Santander, who have shown appetite to provide funding in these continuingly uncertain economic times.

“The acquisition of Tyreland and Treble B continues our progress as a leading tyre seller in the UK, and the increased funding package provides capacity for ongoing growth in the coming years.”