ONCAP's Mavis Discount Tire to merge with Golden Gate's Express
Mavis Discount Tire, a Millwood, New York-based tire retailer and wholesaler, has agreed to merge with Express Oil Change & Tire Engineers, a Birmingham, Alabama-based provider of car care solutions. No financial terms were disclosed. With the deal, ONCAP, the mid-market investment arm of Canadian private equity firm Onex Corp, is selling its interest in Mavis, acquired in 2014, to Express backer Golden Gate Capital. The Sorbaro family, which partnered with ONCAP in a Mavis add-on acquisition in 2015, will lead the new U.S. automotive service platform. The deal is expected to close in 2018's first half. Mavis is also backed by Canadian private equity firm Penfund.
23 February 2018•5 mins read
