An investor group led by BayPine LP, in partnership with TSG Consumer Partners LP (“TSG”) and existing significant equity-holder West First Management (“WFM”), a holding company controlled by David and Stephen Sorbaro, have entered into a definitive agreement to acquire Mavis Tire Express Services Corp. (“Mavis”). Golden Gate Capital, Mavis’ current lead financial partner, will retain a minority interest in the company.
Upon closing, David and Stephen Sorbaro will continue to serve as co-chief executive officers of Mavis, supported by a management team comprised of leaders from Mavis, Express Oil, Brakes Plus and Town Fair Tire.
Terms of the transaction, which is expected to close in the second quarter of 2021, were not disclosed.
Founded in 1972 by the Sorbaro family, and with roots dating back to 1949, Mavis is an independent tire dealer and automotive aftermarket service provider with more than 1,100 service centers primarily in the Northeast, Midwest and Southern United States. Mavis has grown its platform through acquisitions in recent years, including the November 2020 merger with Town Fair Tire, a business in New England. Since 2015, Mavis has added approximately 1,000 service centers to its growing network of stores.