M&A Deal Summary

BayPine and TSG Consumer Partners Acquire Mavis Discount Tire

On March 5, 2021, private equity firms BayPine and TSG Consumer Partners acquired automotive company Mavis Discount Tire from Golden Gate Capital

Acquisition Highlights
  • This is BayPine’s 1st and TSG Consumer Partners’ 3rd transaction in the Automotive sector.
  • This is BayPine’s 2nd and TSG Consumer Partners’ 45th transaction in the United States.
  • This is BayPine’s 1st and TSG Consumer Partners’ 4th transaction in New York.

M&A Deal Summary

Date 2021-03-05
Target Mavis Discount Tire
Sector Automotive
Buyer(s) BayPine
TSG Consumer Partners
Sellers(s) Golden Gate Capital
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)
Covington & Burling (Legal)

Target

Mavis Discount Tire

Millwood, New York, United States
Mavis Discount Tire is an independent tire and service provider in the United States, with more than 1,100 service centers across 27 states. In addition to its core offering of tires from over 20 major brands, Mavis offers a menu of repair and maintenance services including brakes, alignments, suspension, shocks, and exhaust. Mavis Discount Tire was founded in 1972 and is based in Millwood, New York.

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Buyer(S) 2

Buyer

BayPine

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2019
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

BayPine is a private investment firm that seeks to invest in and acquire market-leading businesses across traditional sectors of the economy. BayPine has a particular interest in businesses where digital transformation can have a big impact on the future growth. BayPine was formed in 2020 and is headquartered Boston, Massachusetts.


DEAL STATS #
Overall 2 of 5
Sector (Automotive) 1 of 1
Type (Secondary Buyout) 2 of 5
State (New York) 1 of 1
Country (United States) 2 of 5
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 Penn Foster

Scranton, Pennsylvania, United States

Penn Foster is a leading provider of high school diploma, workforce education, and training solutions. The business focuses on adult learners who seek forms of higher education to improve their career skills and employment status. Penn Foster was founded in 1890 and is based in Scranton, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-29 Pinnacle Dermatology

Brentwood, Tennessee, United States

Pinnacle Dermatology is a provider of a comprehensive suite of dermatology and cosmetic services, caring for conditions like psoriasis, dermatitis, acne, and eczema and providing early detection of and highly-effective treatments for skin cancers, through its team of board-certified dermatologists. Pinnacle Dermatology was founded in 2004 and is based in Brentwood, Tennessee.

Buy -
Buyer

TSG Consumer Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 9.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

TSG Consumer Partners (formerly known as The Shansby Group) is a specialist private equity firm focused on acquiring and building mid-sized, branded consumer companies. TSG invests in private and publicly traded companies, and will consider both majority and minority equity positions. Specific sectors of interest include apparel, beauty, e-commerce, personal care, retail, food/beverages, restaurants, health/wellness, household products, and pet care. TSG looks for companies with sales between $20 million and $1.5 billion and can invest commit up to $500 million per transaction. TSG Consumer Partners was formed in 1987 and is based in San Francisco, California.


DEAL STATS #
Overall 49 of 55
Sector (Automotive) 3 of 5
Type (Secondary Buyout) 7 of 10
State (New York) 4 of 4
Country (United States) 45 of 50
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-15 Canyon Bicycles

Koblenz, Germany

Canyon Bicycles GmbH company engineers, develops, designs, and assembles high-performance road racing, mountain, triathlon, urban and fitness bikes, as well as bicycle parts, accessories, and apparel and sells its products consumer-direct. Canyon bikes are ridden globally at all levels of the sport. The company sponsors top-ranked road and mountain bike teams, including the world number-one ranked Movistar Team, and the reigning triathlon world-champion, Jan Frodeno. Canyon Bicycles was formed in 1985 and is based in Koblenz, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-10 Nuun

Seattle, Washington, United States

Nuun is a hydration company with a mission to empower more movement. Nuun electrolyte tablets and powders provide functional hydration products optimized for exercise, daily health, travel, immune support, energy, and rest. Nuun was founded in 2004 and is based in Seattle, Washington.

Sell -

Seller(S) 1

SELLER

Golden Gate Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golden Gate Capital is a large private equity firm focused on buyout and growth equity investments across a wide variety of industries. The Firm partners with management teams to make equity investments in situations where there is a demonstrable opportunity to significantly enhance a company's value. Sectors of interest include software and IT services, semiconductors, electronics, consumer products and retail, financial services, business services, and media. Prospective transaction types include public-to-privates, corporate extractions, bankruptcy auctions, and recapitalizations. Golden Gate Capital was formed in 2000 and is based in San Francisco, California.


DEAL STATS #
Overall 74 of 84
Sector (Automotive) 1 of 1
Type (Secondary Buyout) 15 of 18
State (New York) 3 of 5
Country (United States) 67 of 76
Year (2021) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-14 LiveVox

San Francisco, California, United States

LiveVox is a provider of enterprise cloud contact center solutions, managing 9+ billion interactions annually. It empowers effective channel-of-choice engagement strategies. The company's risk mitigation and security capabilities help its clients adapt to changing business environments. LiveVox is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-17 Securly

Charlotte, North Carolina, United States

Securly is a student safety company with web filtering, cyberbullying monitoring, and self-harm alerts, Securly provides districts the eyes and the ears they need to maintain safety at all times, across different schools, and different devices. Securly was founded in 2013 and is based in Charlotte, North Carolina.

Buy -