From Tire Review
Mavis Tire Express Services Corp. (Mavis Discount Tire) announced that it has agreed to acquire Tuffy Tire & Auto Service Centers. Tuffy’s CEO and President, Roger Hill, will join the leadership team of the combined company, Mavis said. The transaction is expected to close before the end of 2021. Terms of the transaction were not disclosed.
Founded in 1970, Tuffy’s product and service offerings include brakes, shocks, tires, tune-ups, oil change, preventative maintenance and transmission repair. With the addition of Tuffy’s 165 service centers across the Midwest, South and Southeast United States, the combined company will serve customers across more than 1,200 locations in 35 states, Tuffy said. Tuffy will remain headquartered in Toledo, Ohio, and its more than 140 franchisee-owned stores will continue to be owned and operated by their respective franchisees.
“This combination unites two best-in-class tire and auto service centers with leading services and capabilities across the United States,” said David Sorbaro, Co-CEO of Mavis. “We look forward to working alongside the talented team at Tuffy as we continue to execute on our growth plan, build and scale our combined platform and provide excellent customer service.”
“At Tuffy, we are committed to providing the best automotive repair service in the industry, and teaming up with Mavis will allow us to expand our reach and continue our strong commitment to deep craftsmanship,” said Roger Hill. “Over the past 50 years, Tuffy has grown to become one of the largest automotive repair franchises in the country, and we are excited to become part of another highly-respected organization in our industry.”
In March this year, Mavis switched private equity hands from Golden Gate Capital to an investor group led by BayPine LP, in partnership with TSG Consumer Partners LP with existing significant equity-holder West First Management, a holding company controlled by David and Stephen Sorbaro.
Covington & Burling LLP served as legal counsel to Mavis. Spengler Nathanson served as legal counsel to Tuffy, and Jon Molayem and Robert Cross of Acquivest Financial Group acted as financial advisors to Tuffy.
Mavis Tire Express Services Corp., based in Millwood, New York, is one of the largest independent tire and service providers in the United States, with brands and more than 1,100 service centers across the U.S. In addition to its core offering of tires from over 20 major brands, Mavis offers a menu of repair and maintenance services. The company was founded in 1972 by Marion and Victor Sorbaro and has roots dating back to 1949.
Tuffy operates and franchises 165 Tuffy Tire & Auto Service Centers in Alabama, Florida, Illinois, Indiana, Iowa, Michigan, Nebraska, North Carolina, North Dakota, Ohio, South Carolina, Texas, Virginia and Wisconsin.
