McColl Partners, LLC acted as financial advisor to Snider Tire, Inc. (“Snider Tire” or the “Company”) in its implementation of several coordinated strategic initiatives, including the signing of a franchise agreement with Michelin North America, Inc. (“Michelin”) and its acquisition of certain assets of Tire Centers, LLC (“TCI Tire Centers”).
Snider Tire, a family-owned firm headquartered in Greensboro, North Carolina, specializes in supplying new tires, retreads, and vehicle services primarily to the commercial transportation industry. The Company's management ("Management"), in partnership with McColl Partners, determined that by realigning as a franchisee of Michelin and expanding its geographic footprint through acquiring certain facilities from TCI Tire Centers, the Company could serve as a "one-stop-shop" to its clients throughout the Southeast and blend its expertise as a service provider with Michelin's leading retreading process, Michelin Retread Technologies ("MRT"). This agreement advances Michelin's goal of becoming the premier U.S. provider of tire and retread products and related services to private vehicle owners and commercial fleets. McColl Partners and its partners have advised participants in the commercial tire industry for many years and previously advised the original purchasers on the creation of TCI when its operations were acquired from BFGoodrich.
About Snider Tire, Inc.
Snider Tire is the premier commercial tire and retread provider in the Southeast, providing top-quality products and services to clients through strict adherence to excellence, professionalism, and unmatched service. Snider Tire specializes in providing single-source tire maintenance solutions to commercial trucking fleets, offering a variety of products and services including new tires from industry-leading manufacturers and retreading services to meet the expansive needs of fleet customers. The Company also offers a suite of unique services including Tire and Retread Asset Control System ("TRACSTM"), a comprehensive outsourcing alternative to reduce tire and related costs for fleets, and MechanEX®, the Company's mobile mechanical services offering. More information about Snider Tire can be found at www.snidertire.com.
About Michelin North America, Inc.
Michelin is a subsidiary of Compagnie Generale DES Etablissements Michelin SCA, a global tire development, production, and marketing company headquartered in Clermont-Ferrand, France with an enterprise value of over $14.2 billion. Compagnie Générale des Établissements Michelin is the world's largest tire company, and one of the largest auto wheel manufacturers. Controlled by the founding Michelin family, the company is an international operation with outlets in 170 countries. Michelin owns approximately 80 manufacturing plants located in 19 countries across four continents. Michelin has been a leader in the U.S. tire market for over 60 years, providing tire products and services for a broad range of customers. More information about Michelin can be found at www.michelin-us.com/.
About TCI Tire Centers
TCI Tire Centers is one of the country's leading tire service networks. With over 125 commercial locations, 15 state-of-the-art retreading plants and more than 30 wholesale distribution centers, TCI Tire Centers specializes in commercial truck tire sales and service solutions, and the manufacture of custom-mold and pre-mold truck retreads according to the quality and process standards established by MRT. More information about TCI Tire Centers can be found at http://www.tirecenters.com/.
About McColl Partners, LLC
McColl Partners is an independent investment banking firm specializing in the needs of management and owners of middle-market companies. With significant experience working with entrepreneurs, family-owned businesses, private equity groups, public companies, financial institutions, and divisions of large companies, the firm is dedicated to offering strategic advice and assistance to its clients regarding mergers and acquisitions and private capital raising assignments.
For more information about our Industrials and Building Products Group, please contact Brad Winer or Brian Davis at (704) 333-0525. More information about McColl Partners can be found at www.mccollpartners.com.
