Washington, DC, (July 15, 2021) – Washington, DC, (July 15, 2021) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced that Mahansaria Tyres Private Limited (MTPL), an India-based commercial and industrial tire manufacturer, has acquired a majority stake in Tyres International (TI), an Ohio-based tire importer and distributor. FOCUS represented MTPL in this transaction, along with Percipient Capital Advisors (India).
The acquisition of TI is the first step by MTPL in building its distribution network in North America as part of its effort to create a global, market-leading, off-highway tire business. Through MTPL’s investment, the two companies aim to continue the development of TI as a leading wholesale tire distributor in the U.S.
Tyres International will distribute MTPL’s Ascenso brand of agricultural and construction tires in the U.S. while continuing to act as a distributor for Westlake commercial truck tires and Sunrise commercial truck wheels.
“We have known Marty Bezbatchenko, Principal of TI, for more than 15 years and have the highest regard for his deep knowledge and experience in the American tire market,” said Yogesh Mahansaria, Founder of MTPL. “We are excited about the partnership with Marty and his son, Michael, who will continue to manage the business for us. We look forward to support TI’s development in the coming years.”
“Fifty years after the foundation of TI, it is time to set the course for the foreseeable future,” Marty Bezbatchenko said. “The combined offering of Westlake commercial truck tires, Sunrise commercial truck wheels and Ascenso agriculture and construction tires, supported by a strong and dedicated team, opens up new opportunities in a highly competitive market.”
“We are known for being advocates of tire manufacturers owning controlled distribution to increase their market share,” said Michael McGregor, FOCUS Managing Director. “We were happy to assist Mr. Mahansaria and his team at MTPL introduce the Ascenso brand into the U.S. through this acquisition.”
“It is always great to see the best people with strong businesses team up,” added Rick Thomas, FOCUS CEO and Automotive Team Leader. “The combination of MTPL and TI will be an exceptional force in the industry going forward. MTPL gets superb access for the Ascenso brand into the U.S. market and TI gains a long-term partner that is committed to the well-being of TI and its employees.”
About Mahansaria Tyres
Mahansaria Tyres Private Limited (MTPL), owned and promoted by the Mahansaria family, operates a 127-acre manufacturing facility in Gujarat, India. The company’s Ascenso brand of tires is available in over 45 countries. The Mahansaria family has more than 30 years’ experience in the tire industry, during which time they have built two industry-leading off-highway tire businesses, with MTPL being their third venture in this space.
About Tyres International
Based in Stow, Ohio, Tyres International (TI) is a leading wholesale tire importer and distributor. Founded in 1970, TI specializes in truck, industrial, agricultural, and off-road tires. With warehouses in Ohio and Nevada, TI is one of the main distributors of ZC Rubber’s Westlake brand of commercial truck tires and Sunrise commercial truck wheels in the U.S.
About FOCUS Investment Banking
With more than three decades of experience, FOCUS Investment Banking is a trusted name in middle market M&A advisory services worldwide. Whether helping to sell, buy, or raise capital, FOCUS strives to maximize the value of every transaction for the benefit of its clients. Securities transactions conducted by FOCUS Securities LLC, an affiliated company, registered Broker Dealer member FINRA/SIPC. For more information, visit www.focusbankers.com.
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