People have different opinions about private equity in the tire industry. Some abhor PE firms, hearing stories about how they come in and strip down a business. Others reluctantly accept it, and some embrace it, knowing that outside capital is coming in hot, thanks to the resilience of our industry.
Regardless of how you feel, private equity has offered a way for many shop owners to transition their business or expand with the backing of outside capital. In this episode of What’s Treading with Tire Review, we dig into the process of how private equity firms work with shops and what they look for in an acquisition. In this episode:
- We hear from a former independent tire dealer about his experience selling his business to private equity firm GB Auto Service. (1:06)
- Vic Tarasik, founder of Shop Owner Coach, and Frank Kneller, president of GB Auto, discuss what private equity firms look for when they acquire new stores. (4:13)
- Tarasik advises what dealers should do to get their shops attractive and ready for sale. (6:32)