Washington, DC, (February 12, 2021) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture and corporate finance services, announced today that Porterfield Tire, Inc. of Athens, Georgia, has been sold to Cincinnati-based Tire Discounters. FOCUS represented Porterfield Tire in this transaction.
Porterfield Tire has been the dominant tire dealer in the Athens area since 1972. “My family and I have run this business for close to 50 years and we appreciate all of the support that we have received from our wonderful customers over this past half-century,” founder Troy Porterfield,
Jr., said. “I’m pleased to be turning over Porterfield Tire to another family-run business that has the same high quality and customer service standards that we aimed for. I’d like to thank FOCUS Investment Banking for leading the process that led to this successful transaction.”
Known as the home of the free alignment, Tire Discounters offers a full range of automotive services, including free alignment with a four-tire standard installation. Customers who choose standard installation also enjoy perks like lifetime rotation, lifetime balancing, lifetime pressure adjustments and free tire repair, in addition to warrantied parts and services.
“It’s a real honor that Troy believes in our family to carry on their customer-friendly tradition,” said Chip Wood, founder and owner of Tire Discounters. “My brother, sister, sons and daughter all work here, and we’re trying our best to make sure that our industry isn’t taken over by faceless corporations. Family-run stores are still the heart and soul of the tire business.”
“As a family-owned business, treating our customers like family just comes naturally. We give our customers the value and quality service they deserve,” added Anna Wood, managing director.
“It was a pleasure working with Troy and representing Porterfield Tire in its sale to Tire Discounters,” said Michael McGregor, FOCUS Managing Director and Automotive Team Leader. “There are only a handful of tire dealers that can generate the kind of sales volume Porterfield Tire has. Tire Discounters is one of the few companies that we know of that can continue to grow upon the base that Troy and his team has built.”
About Porterfield Tire
Porterfield Tire, Inc. has been serving Athens and Northeast Georgia since 1972. Its mission is to offer customers the latest in parts and products at the best prices and with unparalleled service. The company has locations in Athens and Watkinsville, Georgia. It has an A+ rating from the Better Business Bureau.
About Tire Discounters
Established in 1976 with a single, one-bay store, Cincinnati-based Tire Discounters has remained under the leadership of its founder, Chip Wood, for the past 40+ years. The company now has 135+ stores with 6-10 bays per store providing tires, wheels and auto services. The company has stores in Cincinnati, Columbus, Dayton, Indianapolis, Knoxville, Lexington, Louisville, Nashville, Chattanooga, Huntsville and Athens. Tire Discounters has two warehouses, in Sharonville, Ohio, and La Vergne, Tennessee.
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 to 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.
*These testimonials may not be representative of the experience of all clients; testimonials are not a guarantee of future performance or success.