M&A Deal Summary

Express Oil Change & Tire Engineers Acquires Mavis Tire Supply

On March 29, 2018, Express Oil Change & Tire Engineers acquired retailer Mavis Tire Supply from ONCAP Management Partners and Penfund

Acquisition Highlights
  • This is Express Oil Change & Tire Engineers’ 1st transaction in the Retail sector.
  • This is Express Oil Change & Tire Engineers’ 1st transaction in the United States.
  • This is Express Oil Change & Tire Engineers’ 1st transaction in New York.

M&A Deal Summary
Date 2018-03-29
Target Mavis Tire Supply
Sector Retail
Buyer(s) Express Oil Change & Tire Engineers
Sellers(s) ONCAP Management Partners
Penfund
Deal Type Merger

Target

Mavis Tire Supply

Millwood, New York, United States
Mavis Discount Tire is an independent tire retailer and wholesaler.

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Buyer(S) 1

Buyer

Express Oil Change & Tire Engineers

Birmingham, Alabama, United States
Category Company
Founded 1979
Sector Automotive
DESCRIPTION

Express Oil Change & Tire Engineers is a provider of total car care solutions, oil change, maintenance and repair services. Express Oil Change & Tire Engineers was founded in 1979 and is based in Birmingham, Alabama.

DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Merger) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1

Seller(S) 2

SELLER

ONCAP Management Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ONCAP is the mid-market private equity business of Onex Corporation. ONCAP looks to invest in small and mid-sized North American businesses where it can commit $20 to $200 million of equity capital. ONCAP considers investment opportunities in a wide range of industry sectors. Situations of interest include, complete or partial sales of a closely held private companies, divestitures, companies seeking equity capital to pursue key strategic initiatives, and take privates. ONCAP was established in 1999 and is based in Toronto.

DEAL STATS #
Overall 13 of 18
Sector (Retail) 1 of 1
Type (Merger) 1 of 1
State (New York) 1 of 1
Country (United States) 5 of 9
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-08 Pinnacle Renewable Energy

Richmond, British Columbia, Canada

Pinnacle Renewable Energy is a producer of industrial wood pellets in the world. Pinnacle Renewable Energy's products are used to displace fossil fuels in the production of baseload electrical power in key markets around the world. Pinnacle Renewable Energy operates nine production facilities in Western Canada and one in Alabama, with one additional facility under construction in Alabama and more in development. Pinnacle Renewable Energy was founded in 1989 and is based in Richmond, British Columbia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 AutoSavvy

Woods Cross, Utah, United States

AutoSavvy is a branded title vehicle retailer in the U.S. AutoSavvy leverages a network of 490+ vehicle rebuilders to turn branded title vehicles into best-in-market inventory. Vehicles undergo a 151-point inspection, and are sold to consumers who save 15-20% on average compared to a comparable clean title vehicle. AutoSavvy is based in Woods Cross, Utah.

Buy -
SELLER

Penfund

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1979
PE ASSETS 2.7B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Penfund is a private investment firm that provides equity, junior capital, and alternative financing to Canadian-based middle-market companies with EBITDA of at least C$20 million. Penfund can commit up to C$225 million per transaction. Penfund does not have any industry preferences and its investments are generally used to support growth needs, recapitalization, shareholder liquidity, acquisitions, and buyouts. Penfund was formed in 1979 and is based in Toronto.

DEAL STATS #
Overall 13 of 19
Sector (Retail) 4 of 4
Type (Merger) 2 of 2
State (New York) 1 of 1
Country (United States) 5 of 10
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-16 Aveanna Healthcare

Atlanta, Georgia, United States

Aveanna Healthcare is a provider of pediatric home care with 180 locations in 23 states, and 26,000 caregivers currently serving over 40,000 patients. Aveanna Healthcare was founded in 2016 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-02 SureWerx

Coquitlam, British Columbia, Canada

SureWerx is a supplier of professional safety products, tools, and equipment. The company offers access to its brands through its partner distributor network servicing the industrial, construction, safety, and automotive aftermarket markets globally. SureWerx was founded in 1957 and is based in Coquitlam, British Columbia.

Sell -
Mergr

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