AKRON — Mavis Tire Express Services' deal to buy TBC Corp.'s retail tire/auto service business is a win-win for both companies, allowing each to focus on its respective strengths, a number of industry players observed in the wake of the deal's closing on June 1.
"The deal reflects the right motivations for both firms," Steven Rathbone, managing director of Stout Risius Ross L.L.C.'s investment banking sector. "Kudos to both for closing what had to be difficult deal."
For Mavis, the deal represents the addition of "retail density in existing markets plus a presence in some key growth markets, like Texas, Florida and the Midwest," he said, noting that the dealership has doubled or even tripled its presence in some markets.
"Clearly this brings Mavis meaningful scale, something it's been seeking for some time ... and potentially puts the possibility of a public listing at some point on the table."