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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Sun., Feb. 25, 2:24 PM

Slide #2. Mavis Discount Tire Express Oil Change & Tire Engineers

Acquirer: Mavis Discount Tire
Acquiree: Express Oil Change & Tire Engineers
Details: Mavis Discount Tire ("Mavis") today announced that it has signed a definitive agreement to merge with Express Oil Change & Tire Engineers ("Express"), a Golden Gate Capital portfolio company, creating one of the largest independent automotive service platforms in the U.S. Upon closing, the combined company will be led by Mavis' current Co-Chief Executive Officers, David and Stephen Sorbaro, and Express' Chief Executive Officer, Ricky Brooks, will be named Executive Chairman. ONCAP is selling its stake in Mavis to Golden Gate Capital, which, along with the Sorbaros, will be significant shareholders in the combined company. Financial terms of the transaction, which is expected to close in the first half of 2018, were not disclosed.

  Both companies are privately held or listed on a foreign exchange.
 

February 25, 2018    2:24 PM Eastern

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