Mavis Tire Completes Acquisition of Midas From TBC Corporation

Mavis Tire Express Services Corp. announced that it has completed the purchase of Midas from TBC Corporation. Financial terms of the transaction are not being disclosed.

The addition of Midas marks a significant milestone in Mavis’s growth strategy, stated company officials in a press release. 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.

Mavis Will Continue to Expand Its Presence Into New Markets

The company says this transaction will strengthen Mavis’s position as a leading provider of automotive repair and maintenance services, enabling it 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, noted the press release.

“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.