Twitter LinkedIn
    Wednesday, May 25
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals»Golden Gate Weighs Sale of Mavis Tire Centers Business
    Deals

    Golden Gate Weighs Sale of Mavis Tire Centers Business

    January 16, 20212 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Mavis Express Tire Services could fetch up to $6 billion. Auto-service chain generates Ebitda of about $360 million

    Golden Gate Capital is considering a sale of its Mavis Express Tire Services business that could value the company at as much as $6 billion, according to people familiar with the matter.

    The San Francisco-based investment firm is working with an adviser to explore strategic options for the auto-service chain, said the people, who asked not to be identified because they weren’t authorized to speak publicly.

    The business, which is expected to attract interest from other private equity firms and peers, is generating about $360 million in earnings before interest, taxes, depreciation and amortization, the people said.

    Golden Gate hasn’t made a final decision on pursuing a sale and its plans could change, the people said.

    A representative for Golden Gate declined to comment. A spokesperson for Mavis didn’t respond to requests for comment.

    Golden Gate invested in Express Oil Change & Tire Engineers in 2017, purchasing Mavis Discount Tire a year later, according to statements. It combined the two in 2018.

    The company provides tire, oil-change and mechanical services at more than 800 centers across North America, according to Golden Gate’s website.

    Golden Gate also owns stakes in companies including Invo Healthcare and Angus Chemical Co., according to its website. Golden Gate sold a 50% stake in Angus in October in a deal valued at $2.25 billion.

    Source: Bloomberg

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    deals Investments Private Equity Firm Transactions
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Investcorp to invest $400 mn Indian schooling infra

    May 24, 2022

    KKR Leads $200+ Million Growth Investment in Enterprise Identity Protection Leader Semperis

    May 24, 2022

    Vista Equity Partners Among the First Major U.S. Private Equity Firms to Advance Global ESG Strategy with Portfolio-Wide Participation in Climate Program

    May 23, 2022

    General Atlantic eyeing $2 bn investment in India, SE Asia

    May 23, 2022

    Comments are closed.

    Other Articles

    New Frontier receives proposal to go private in nearly $1.72 billion deal

    February 13, 2021

    Canada’s Whitecap Resources to buy Kicking Horse Oil & Gas for C$300 million

    April 7, 2021

    StoryBuilt and Partners Group Enter Into a $1 Billion Real Estate Joint Venture

    December 16, 2021

    Britain’s Clinigen agrees to $1.6bn take-private deal

    December 8, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2022 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?