SAN DIEGO — Greenbriar Equity Group L.L.C. has acquired Evans Tire & Service Centers Inc. of San Diego in a private equity transaction, expanding the holdings under its GB Automotive Service Inc. unit to 64 locations in Arizona, California and Nevada.
Terms of the deal, which closed in late 2018, were not disclosed.
This is Rye, N.Y.-based Greenbriar Equity's fourth acquisition in the automotive aftermarket in the past several months. The others are Nevada-based Tire Works Total Car Care (15 outlets), California's Ramona Tire Inc. (17 outlets) and Brake Max Car Care Centers of Arizona (14 outlets).
Evans Tire operates 18 locations in and around San Diego and reported sales of $42.6 million in fiscal 2017, split 60/40 tires/auto service. The business' footprint stretches from Vista southward 45 miles to Chula Vista. The dealership last expanded in late 2017 with the opening of three stores.
The business has operated under the Evans Tire name since 2000, when John Andonian — co-founder of AKH Co. Inc./Discount Tire Centers in 1976 with his brother Andy — hived off the San Diego-area AKH stores.
Greenbriar's GB Automotive unit is headed by David Dyckman, a former American Tire Distributors Inc. (ATD) executive who joined the private equity firm in October 2015 as an advisory director, tasked with evaluating potential investment opportunities. Mr. Dyckman spent nine years at ATD, starting as chief financial officer in 2006 and advancing to executive vice president and chief operating officer by 2012.
Mr. Dyckman did not respond to requests for comment.
Mr. Andonian — who continues to operate a separate business, TAG Motorsports, a single-outlet dealership in Vista, Calif., focused on high-end luxury and sports cars, — declined to comment.
According to TAG Motorsport's website, the firm handles wheel/tire upgrades; aero/aesthetic upgrades; complete vehicle conversions; aftermarket suspension and exhaust upgrades; engine performance upgrades; complete diagnostic and service on late model European cars; cosmetic paint customization, etc.