BEND, Ore. — Les Schwab Tires has acquired CMC Tire, a predominantly commercial tire dealership headquartered in St. George, Utah.
The dealership, founded in 2014 by Michael Morast and Tommy Servine, will continue to operate as an independent business using the CMC Tire brand, under Les Schwab Tires ownership.
Financial terms of the transaction were not disclosed.
CMC Tire serves the commercial, mining and construction markets, operating through 11 locations in Colorado, Nevada and Utah, including one retread plant.
"CMC Tire is a high-quality company with a fantastic track record and impressive growth over the last 10 years," Les Schwab Tires CEO Mike Broberg said.
"We look forward to continuing that growth and achieving new things as a result of the strength of our combined team.
"We are two customer-centric brands coming together. We share a culture of excellent service and a commitment to supporting and creating opportunities for our employees. This is an exciting opportunity to expand our commercial business alongside our continued retail growth," Broberg said.
"After 10 years of successful expansion, the time was right for new ownership," Morast said. "With more than 70 years of its own successful growth, Les Schwab Tires has the resources and knowledge to fuel the next stage of growth for CMC."
Servine added: "CMC Tires has come a long way from our beginnings. A passion for better supporting trucking fleets with cost-effective tire programs designed to maximize roll time drove us to develop a special model that has been embraced by our customers. We're glad to now be joining forces with a company that shares our values and will further energize our growth."
CMC Tires has a fleet of more than 70 service trucks supporting locations in Cedar City, Hurricane, Salina and St. George, Utah; Elko, Ely, North Las Vegas, and Sparks, Nev.; and Aurora and Johnstown, Colo.
CMC operates a ContiLifeCycle truck tire retreading plant in Hurricane.
The dealership has approximately 200 employees. No changes to staffing are planned at either company following the acquisition, Les Schwab said.
This is the second acquisition Les Schwab has made since being acquired by Meritage Group L.P., a California- and New York-based investment group. in September 2020. In July 2021 it bought Plains Tire Co., the Casper, Wyo.-based dealership with nine stores in Wyoming.
Les Schwab Tire has more than 541 locations across 12 states: Alaska, California, Colorado, Idaho, Minnesota, Montana, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming.
