ONCAP, Sobaro Family acquire Somerset Tire Service for $48 mln
Mavis Tire Supply LLC, a portfolio company of Canadian private equity firm ONCAP, has bought Somerset Tire Service Inc, a 157-store tire retailer with locations across New Jersey, Pennsylvania and New York. ONCAP partnered with its investors and Mavis' founders, the Sorbaro Family, to invest a total of US$48 million in the acquisition. Based in Millwood, New York, Mavis is an independent tire retailer and wholesaler. ONCAP, the mid-market platform of Onex Corp, has backed the company since October 2014. Mavis is also a portfolio investment of Canadian private equity firm Penfund. Last month, ONCAP acquired Chatters Canada Ltd.
5 August 2015•2 mins read
