Blackcircles.com founder Michael Welch OBE has reflected on Sir Terry Leahy’s role in building the online tyre retailer, following its inclusion in a case study published by Maia Business Builders.
Maia Business Builders, the Leahy family’s investment business, features Blackcircles among the examples of its experience supporting company founders. The firm describes its approach as providing permanent capital alongside practical operating experience.
Writing on LinkedIn, Welch recalled approaching the former Tesco chief executive by letter while building Blackcircles in his early 20s. Leahy later returned the original letter, complete with his handwritten note: “cup of tea in my office.”
That meeting began a relationship which continued through the company’s growth and its acquisition by Michelin in 2015.
Welch described Leahy as an investor and adviser, but above all a trusted mentor who challenged his thinking and helped him navigate the pressures of building a business.
“The value of having the right people around you when you are building a business for the first time” was much harder to quantify than its financial achievements, he wrote.
Blackcircles developed an online tyre purchasing model linked to local fitting garages. Michelin acquired the business for £50 million in May 2015.
Welch also highlighted his own investment and advisory work through Anglo Atlantic, whose launch TNM covered in March.
Tags: Blackcircles, Michael Welch, Sir Terry Leahy, Maia Business Builders, tyre retail, online tyre business, business mentoring, Michelin acquisition, Anglo Atlantic
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