CLEVELAND, N.C. (Dec. 13, 2013) — Ragan Tire Group, the holding company for OTR retreader RDH Tire & Tread Co., has acquired the OTR tire servicing assets of Snider Fleet Solutions in the Carolinas and Georgia and agreed to a long-term servicing agreement with Snider covering the OTR business.
Financial terms of the deal were not disclosed. Neither Ragan nor Snider elaborated on what assets are included in the deal.
For Snider, the transaction will allow the Greensboro, N.C.-based commercial dealership to “focus on our core business of providing truck tires, (Michelin Retread Technologies) retreads and related services to our diverse group of customers,” according to SFS CEO John Snider.
“Ragan Tire Group has a reputation for providing quality products and services in the large OTR market,” he added, “and we are confident our current OTR customers will be well served…as a result of this transaction.”
For Ragan Tire, the deal provides an “opportunity to implement our growth initiatives across the Georgia marketplace,” according to Ty Smith, vice president, sales and operations for RTG. “By expanding our resources in Georgia, we are now better positioned to service our customers.”
This is Ragan Tire Group’s second acquisition this year in this field. In June Ragan acquired Irmo, S.C.-based Miller Bros. Giant Tire Inc., an OTR tire distributor with eight service locations in the Carolinas, Florida and Georgia.
The combined Ragan-Miller Bros. OTR business unit operates service locations in Concord, Graham and Marion, N.C., Duncan, Cayce and North Charleston, S.C., Palmetto, Ga., and Jacksonville, Fla.
Snider ramped up its OTR business in 2007, when it hired Ken Hinson to oversee the development of an industrial/OTR tire division to complement its commercial tire business.
Among the products and services offered by SFS' industrial/OTR business are cushion or press-on band tires, solid pneumatic or resilient tires, radial pneumatic tires, bias ply pneumatic tires, poly tires, load wheels, and casters, according to the firm's Web site.