Mavis Tire Completes Acquisition of Midas from TBC Corporation
The addition of Midas, a globally recognized automotive service brand with a strong presence across North America, marks a significant milestone in Mavis's growth strategy. With this acquisition, Mavis expands its retail network to more than 3,500 locations across the United States and Canada, including nearly 1,300 franchised locations. Midas will continue to operate as a standalone brand under the Mavis platform and maintain its headquarters in Palm Beach Gardens, Florida.
This transaction strengthens Mavis's position as a leading provider of automotive repair and maintenance services, enabling the company to expand its presence within the dynamic North American automotive service repair industry. As part of its strategic growth plan and disciplined approach to expansion, Mavis will continue to evaluate opportunities to add and seamlessly integrate complementary locations onto its platform.
'We are excited to officially welcome Midas to the Mavis family,' said David Sorbaro, Co-Chief Executive Officer, Mavis Tire Express Services Corp. 'This transaction reflects our ongoing commitment to expanding our portfolio of respected brands and establishing our presence in compelling new markets. We're excited to partner with Midas's talented team and franchisees to build on their legacy of exceptional service and to drive the next chapter of growth together.'
Jefferies LLC acted as the exclusive financial advisor to Mavis and Covington & Burling LLP served as legal counsel.
About Mavis
Mavis Tire Express Services Corp., based in White Plains, New York, is one of the largest independent tire and service providers in the United States, with more than 3,500 service centers across 50 U.S. states and eight Canadian territories. In addition to its core offering of tires from over 21 major brands, Mavis offers a menu of repair and maintenance services including brakes, alignments, suspension, shocks, and exhaust. Mavis, which was founded in 1972 by Marion and Victor Sorbaro and has roots dating back to 1949, has a strong reputation for delivering best-in-class customer service and quality. For more information, visit mavis.com.
About Midas
Midas is an award-winning franchise brand and leading provider of automotive repair and maintenance services at approximately 2,000 franchised and licensed Midas locations in nearly 20 countries, with approximately 1,200 across the United States and Canada. Midas is known for its industry-leading guarantee. Midas ranked number one in the Automotive Repair and Maintenance Services category in Entrepreneur's 46th annual Franchise 500 ® ranking. For more information, visit midas.com.
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