INDIANAPOLIS (Aug. 7, 2014) — Best-One Tire & Service L.L.C. has bought the former Terry’s Tire Town commercial tire assets in northeast Ohio from American Tire Distributors Holdings Inc. (ATD)
They include four tire service facilities and a Bandag retread plant which ATD had acquired in its April purchase of Terry’s Tire.
The tire service locations in Canton, Girard, Twinsburg and Alliance, Ohio, plus the retread plant in Alliance are now operating under the Great Lakes Best-One Tire & Service banner, according to Indianapolis-based Best-One Tire, considered the fourth largest commercial dealership in the U.S. with sales last year of $300 million.
Financial terms of the sale were not disclosed, but ATD estimated in its recent initial public offering prospectus the value of the business being divested at $3.3 million, including $2.5 million in assets and net property and $800,000 in equipment.
James Brott, who managed the Terry’s Tire Town locations for 23 years, will be the managing partner for the newly established Great Lakes Best-One locations. He has worked for 31 years in the tire industry.
“I look forward to continuing the many long-term relationships that I’ve been able to establish with both my customers and employees in the more than 20 years that I’ve spent with Terry’s Town,” Mr. Brott said. “I’m also glad to be joining the Best-One group—an organization that has built great strength in the tire industry over the years and is comprised of many excellent people.”
The core of the business being divested is a Bandag-system retread plant and commercial tire center that Terry’s Tire bought from Premier Bandag in 1998 and expanded in 2007, according to a published Terry’s Tire history.The business acquired employs 50, Best-One said.
ATD has characterized the commercial tire operations as not consisent with its core business of wholesaling and therefore designated for divestment.
The next nearest existing Best-One Tire commercial tire service points are in Cleveland and Jackson, Ohio, according to Best-One’s online dealer locator.
Dave Hartman, director of commercial development for Best-One, said this expansion further into northeastern Ohio is positive strategic growth for Best-One.
He called Mr. Brott a “high-quality individual.”
The acquired locations expand Best-One’s network of commercial servicing points to more than 130, and the Alliance retread plant will be Best-One’s fourth Bandag retread facility in Ohio and 16th overall throughout Best-One’s coverage area.
Overall, Best-One Tire & Service has more than 250 retail and commercial outlets operating under the Best-One umbrella. More information is available on the dealership’s website.
What is the top story from tire and automotive service industry in 2017?
|Icahn Automotive buys more than 225 retail and two other franchise groups with nearly 1,000 locations.||
36% (44 votes)
|Nokian and Triangle announce plans to build tire plants in North America, while Hankook and Giti officially open their N.A. plants.||
22% (27 votes)
|Love’s Travel Stops open 36 travel stops, acquire Speedco and the establish a retread business unit.||
11% (13 votes)
|Tire manufacturers hike prices as raw material prices fluctuate.||
17% (20 votes)
|K&M expands into New England by acquiring MotoStar.||
4% (5 votes)
|eBay Motors launches tire installation service for U.S, as well as automotive technician search service.||
10% (12 votes)
|Total votes: 121|