Online tyre retailer Mike Welch has made his first investments since selling Blackcircles to Michelin for £50 million.

Mr Welch, who remains at the helm of the Peebles based business, has taken a stake in online fashion company Atterley and upmarket homeware business Houseology.

He established Blackcircles in 2001 and brought former Tesco chief executive Sir Terry Leahy on to the board before being approached by Michelin last May. He owned a third of the company.

Mr Welch was appointed an OBE in the New Year Honours list.