CLEVELAND--(BUSINESS WIRE)--Dealer Tire, LLC, the leading value-added distributor of replacement tires and parts for automotive OEMs and their dealers, announced today that it has secured a significant financial investment from Lindsay Goldberg LLC. A portion of the investment proceeds will be used to purchase the interests of TA Associates, the Company’s current investment partner, which invested in Dealer Tire in 2009. Lindsay Goldberg, based in New York, is a private equity firm that specializes in maintaining long-term investments in family-owned businesses and collaborating with management teams to achieve long-term growth.
Headquartered in Cleveland, Ohio, Dealer Tire is the only national distributor providing value-added program management, logistics and IT services to assist automobile manufacturers and their franchised dealers in selling replacement tires and parts to service customers.
“We thank TA Associates for their support over the past five years and welcome our new partners at Lindsay Goldberg,” said Scott Mueller, CEO of Dealer Tire and Dean Mueller, President of Dealer Tire. “Our company prides itself on our innovative approach and accomplishment-driven culture. Lindsay Goldberg’s successful track record, prudent financial philosophy and long-term investment approach are uniquely aligned with Dealer Tire’s goals and aspirations. We are excited to join in this partnership, one that we are confident will benefit all of our stakeholders.”
“We are very pleased to make this significant investment in Dealer Tire,” said Michael Dees, Partner at Lindsay Goldberg. “Franchised auto dealers have become increasingly focused on customer retention within their service departments and replacement tires and light maintenance parts are a major defection point away from dealers. Dealer Tire provides dealers with the tools necessary to offer their customers better service in a profitable manner. Lindsay Goldberg is equally enthusiastic about the opportunity to partner with Dealer Tire and its employees to drive future growth and support the Company’s unique culture of innovation.”
Financial details of the investment were not disclosed. The arrangement between Dealer Tire and Lindsay Goldberg is anticipated to close in December 2014.
About Dealer Tire
Founded in 1999, Dealer Tire helps original equipment automobile manufacturers design, implement and manage profitable tire and parts programs for their dealerships, in turn increasing customer satisfaction, customer safety and customer retention. Through its 42 distribution centers, Dealer Tire manages replacement tire and parts programs for 23 automotive OEMs in the US and 8 in Canada and serves more than 10,000 dealers. More information about Dealer Tire can be found at www.dealertire.com.
About Lindsay Goldberg
Lindsay Goldberg is a New York-based private investment firm that manages $10 billion of equity capital and is focused on partnering with family owned and entrepreneur-led businesses seeking a partner to help actively build their businesses. For more information about Lindsay Goldberg please visit www.lindsaygoldbergllc.com.