Global mobility company Bridgestone has acquired a 5% stake in a Halfords subsidiary for £3m, becoming one of its customers.
Avayler was developed by Halfords in 2021 to manage services in garages, mobile vans and retail stores. It is a “software as a service” provider for multi-location automotive companies, helping companies digitize their services, from online customer booking to invoicing.
Bridgestone also joins Avayler’s client list, which includes names such as American Tire Distributors, Tirebuyer and Mobivia. For an initial term of 15 years, Avayler will provide Bridgestone with access to its garage and van software products and certain services to facilitate Bridgestone’s use. The agreement provides for the introduction of Avayler products in Bridgestone retail stores and vans in the United States.
The proceeds of the cash deal will be used for general corporate purposes, including supporting Avayler’s continued growth, Halfords says.
Avayler had gross assets of £3,054,618 on 31 March 2023 and made a loss of £74,662 in the financial year ending March 2023.
Graham Stapleton, Chief Executive of Halfords, commented: “Since its launch just over two years ago, Avayler has been chosen by some of the world’s largest automotive companies, who immediately recognized the compelling value it can add to their operations.
“Today’s investment from Bridgeston, one of the world’s largest mobility companies with over 3,000 garages and vans worldwide, is another fantastic endorsement for the platform, and the length and scale of the agreement reinforces our confidence in Avayler’s long-term potential as we continue to roll out more customers all over the world.”
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