Mavis Tire Express Services Corp. Acquisition, Valuation, Funding & Investors

Mavis Tire Express Services Corp. was acquired by BayPine and TSG Consumer Partners for $6B in March 2021.

Mavis Tire Express Services Corp. acquisition price

$6B

Acquired by BayPine, TSG Consumer Partners · Mar 2021

Key investors in Mavis Tire Express Services Corp.

Mavis Tire Express Services Corp. Overview

About Mavis Tire Express Services Corp.

Mavis Tire Express Services Corp. is a tire retailer and automotive service company that operates and franchises service centers across the United States. Its roots go back to Vic's Cycle Shop, a bicycle repair stand opened in Westchester County, New York, in 1949, which was rebranded Mavis Tire Supply in 1972 by the Sorbaro family. The company offers tires, brakes, alignments, suspension work, oil changes, batteries, exhaust work and state inspections to consumers and commercial fleets. Its brands include Mavis Discount Tire, Express Oil Change & Tire Engineers, Brakes Plus, Tire Kingdom, NTB, Town Fair Tire, Tuffy and Midas. It earns revenue from retail tire sales, automotive services and, through Midas, franchise royalties. The current company was formed in 2018 when Mavis merged with Express Oil Change and Brakes Plus, and it has grown through a long series of store and chain acquisitions as well as new store openings. Its headquarters are in White Plains, New York, and the Sorbaro family members David and Stephen Sorbaro have served as co-chief executives.


Founded

1949

HQ

United StatesNew York City, NY

Website

mavis.com

Status

Acquired

Customer focus

B2C & B2B

Revenue model

Product sales, Services

Valuation

$6B (acquired Mar 2021)

Mavis Tire Express Services Corp. Acquisition

Mavis Tire Express Services Corp. was acquired by BayPine and TSG Consumer Partners for $6B on 5 March 2021.

An investor group led by BayPine LP, in partnership with TSG Consumer Partners LP and existing equity-holder West First Management (controlled by David and Stephen Sorbaro), entered into a definitive agreement on March 5, 2021, to acquire Mavis Tire Express Services Corp., one of the largest independent automotive service platforms in the United States, from Golden Gate Capital, which retained a minority interest. Mavis, founded in 1972 by the Sorbaro family with roots to 1949, operates over 1,100 service centers primarily in the Northeast, Midwest, and Southern U.S., offering tires, brakes, alignments, oil changes, and other aftermarket services. The company has grown through acquisitions, including the 2018 merger with Express Oil and the November 2020 merger with Town Fair Tire, adding about 1,000 centers since 2015. David and Stephen Sorbaro continued as Co-CEOs post-closing, supported by management from Mavis, Express Oil, Brakes Plus, and Town Fair Tire. BayPine aimed to leverage its digital transformation expertise to enhance customer experience, operating efficiencies, and Mavis' national brand position while supporting its consolidation strategy. The transaction was expected to close in Q2 2021. The companies did not disclose terms; press reports citing people familiar with the matter put the deal at more than USD 6 billion including debt.

Mavis Tire Express Services Corp. acquisition details
AcquirerDateTypePrice
  • BayPine
  • TSG Consumer Partners
5 Mar 2021PE buyout$6B

Sources: baypine.com, foxbusiness.com

Mavis Tire Express Services Corp. Funding History

Mavis Tire Express Services Corp. has raised 1 funding round.

Mavis Tire Express Services Corp. funding rounds
DateStageInvestorsDeal Summary
Jun 2023Undisclosed stageNeuberger Berman (lead)Neuberger Berman Alternatives led the acquisition of a minority stake in Mavis Tire Express Services Corp. in June 2023, with the investment made by several client portfolios managed by NB Alternatives Advisers. Terms were not disclosed. Neuberger Berman said it was excited to partner with management and the existing investors BayPine, TSG and Golden Gate Capital to support Mavis's continued growth. Mavis was founded in 1972 by the Sorbaro family, with roots dating back to 1949, and is an independent tire dealer and automotive aftermarket service provider with approximately 2,000 locations across the United States at the time of the deal. Its services include tires, brakes, alignments, suspension, shocks, struts, oil changes and battery replacement. The company had grown through a series of acquisitions alongside new store openings in existing markets.

Who has invested in Mavis Tire Express Services Corp.?

1 investor has backed Mavis Tire Express Services Corp. across its funding rounds, including Neuberger Berman.

Lead investors include Neuberger Berman.


Mavis Tire Express Services Corp. Investors

Investors in Mavis Tire Express Services Corp. by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Mavis Tire Express Services Corp.

Mavis Tire Express Services Corp. has acquired 19 companies to date.

Last acquisition by Mavis Tire Express Services Corp. was on July 19th 2026. Mavis Tire Express Services Corp. acquired Pep Boys for $700M.


Latest Acquisitions by Mavis Tire Express Services Corp.

Pep Boys
Midas
Tire Kingdom
NTB
Description
Pep Boys is a Philadelphia-headquartered automotive aftermarket retailer and service chain operating nearly 800 stores with over 7,400 service bays across the United States and Puerto Rico. The company provides tire sales, alignments, brake repairs, oil changes, and parts for brands like Mobil 1 and Michelin, servicing more than six million vehicles annually. Pep Boys features speed shops in select supercenters for performance upgrades on hot rods and off-road vehicles, alongside customer lounges with Wi-Fi in updated locations. Listed on the New York Stock Exchange since 1982, it introduced its Road Ahead retail experience in 2012.
Midas is a Palm Beach Gardens-headquartered automotive service chain with over 1,200 locations across the United States and international franchises. The brand specializes in brake repairs, muffler and exhaust replacements, shocks, struts, and tyre services using parts from Monroe, Walker, and Raybestos. Acquired by TBC Corporation in 2019, it performs oil changes, alignments, and diagnostic scans at neighborhood shops open seven days a week.
Tire Kingdom is a Florida-based chain of automotive service centers across the southeastern US. With locations in 13 states including Florida, Georgia, and Texas, it provides tire replacements from brands like Firestone and Bridgestone, alongside oil changes, battery installations, brake services, and alignments. The company runs military discounts and lease-end inspection programs, training technicians annually on ASE standards.
NTB is a nationwide automotive service chain in the United States specializing in tire sales, battery replacements, brake repairs, alignments, and fluid maintenance. With over 200 locations across 32 states, the company operates under TBC Corporation, offering brands like Bridgestone and Goodyear tires alongside National Tire & Battery services. NTB provides free inspections, wiper blade installations, and suspension repairs, serving millions of drivers annually through a network focused on quick turnaround and competitive pricing in the fast-paced auto care market.
HQ CountryUnited StatesUnited StatesUnited StatesUnited States
HQ City
Philadelphia, PA
Las Vegas, NV
Boston, MA
West Palm Beach, FL
Deal Date19 Jul 202616 Jun 202522 May 202322 May 2023
Valuation$700Mundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Mavis Tire Express Services Corp. Competitors

Mavis Tire Express Services Corp. competitors include listed companies like USS Co., Valvoline, Atmus Filtration and D'Ieteren, and private ones like The Automobile Association and Belron.

Public and private companies comparable to Mavis Tire Express Services Corp.
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
The Automobile AssociationUnited KingdomBasingstokePrivate$739M$456M$5.3B7.2x
USS Co.JapanJapanPublicly listed$720M$419M$5.2B6.3x
ValvolineUnited StatesUnited StatesPublicly listed$1.7B$486M$4.4B3.0x
Atmus FiltrationUnited StatesUnited StatesPublicly listed$1.8B$330M$4.1B2.4x
BelronLuxembourgLuxembourgPrivate-$670M$3.5B-
D'IeterenBelgiumBelgiumPublicly listed$9B$957M$11B1.5x

Mavis Tire Express Services Corp. Public Comps

Mavis Tire Express Services Corp. is no longer listed, but its public comps include USS Co., Valvoline, Atmus Filtration, Boyd Group Services, Driven Brands, Sonic Automotive, D'Ieteren, Ali Alghanim & Sons Group and IDOM.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
USS Co.$720M$419M6.6x6.3x11.4x11.1x
Valvoline$1.7B$486M3.7x3.0x13.0x11.3x
Atmus Filtration$1.8B$330M2.7x2.4x14.7x12.1x
Boyd Group Services$3.1B$342M1.4x1.1x13.2x8.7x
Driven Brands$1.9B$393M2.1x2.0x10.2x9.4x
Sonic Automotive$15B$525M0.4x0.4x12.7x11.5x
D'Ieteren$9B$957M1.5x1.5x13.7x18.4x

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Common questions about Mavis Tire Express Services Corp.

When was Mavis Tire Express Services Corp. founded?Mavis Tire Express Services Corp. was founded in 1949.
Where is Mavis Tire Express Services Corp. headquartered?Mavis Tire Express Services Corp. is headquartered in New York City, NY, United States.
Is Mavis Tire Express Services Corp. publicly listed?No, Mavis Tire Express Services Corp. was acquired by BayPine and TSG Consumer Partners in March 2021.
Who acquired Mavis Tire Express Services Corp.?Mavis Tire Express Services Corp. was acquired by BayPine and TSG Consumer Partners in March 2021.
How much was Mavis Tire Express Services Corp. acquired for?Mavis Tire Express Services Corp. was acquired for $6B in March 2021.
What was Mavis Tire Express Services Corp.'s last funding round?Mavis Tire Express Services Corp.'s last funding round was a undisclosed-stage round in June 2023, led by Neuberger Berman.
Who are Mavis Tire Express Services Corp.'s investors?Mavis Tire Express Services Corp.'s investors include Neuberger Berman.
Which companies are comparable to Mavis Tire Express Services Corp.?Companies comparable to Mavis Tire Express Services Corp. include The Automobile Association, USS Co., Valvoline, Atmus Filtration, Belron and D'Ieteren.
How many companies has Mavis Tire Express Services Corp. acquired?Mavis Tire Express Services Corp. has acquired 19 companies, including Pep Boys, Midas, Tire Kingdom, NTB and Melvin's Tire Pros & Auto Service Centers.
What was the largest acquisition by Mavis Tire Express Services Corp.?The $700M acquisition of Pep Boys in July 2026 is the largest acquisition Mavis Tire Express Services Corp. has made to date.

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