M&A Deal Summary

Irving Place Capital Acquires Coker Tire

On November 15, 2018, private equity firm Irving Place Capital acquired automotive company Coker Tire

Acquisition Highlights
  • This is Irving Place Capital’s 3rd transaction in the Automotive sector.
  • This is Irving Place Capital’s 38th transaction in the United States.
  • This is Irving Place Capital’s 2nd transaction in Tennessee.

M&A Deal Summary
Date 2018-11-15
Target Coker Tire
Sector Automotive
Buyer(s) Irving Place Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Coker Tire

Chattanooga, Tennessee, United States
Coker Tire is a provider of collector vehicle enthusiasts with tires and wheels for many applications. With such brands as Firestone, Michelin, U.S. Royal, and BFGoodrich, the product line at Coker Tire is filled with high-quality bias ply and radial tires. Coker Tire was founded in 1958 and is based in Chattanooga, Tennessee.

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Buyer(S) 1

Buyer

Irving Place Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 4.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Irving Place Capital (formerly Bear Stearns Merchant Banking) is an independent private equity firm focused on making investments in middle-market companies located in North America and Western Europe. Irving primarily looks for opportunities in the retail, financial services, consumer products and packaging sectors, but will also consider investments in other traditional and service based businesses such as restaurants, transportation/logistics, healthcare, energy, and industrial products/services. The Firm's target investment size is $50 to $250 million of equity capital and EBITDA in excess of $7 million. Prospective transaction situations include traditional management buyouts, growth capital financings, divestitures, consolidations, and recapitalizations. Irving Place is based in New York City.

DEAL STATS #
Overall 47 of 49
Sector (Automotive) 3 of 4
Type (Buyout (LBO, MBO, MBI)) 14 of 15
State (Tennessee) 2 of 2
Country (United States) 38 of 40
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-26 Chromalox

Pittsburgh, Pennsylvania, United States

Chromalox, Inc. is a provider of electrical products, systems and solutions for industrial process heating and temperature management. Chromalox, Inc. was founded in 1915 and is based in Pittsburgh, Pennsylvania.

Sell $415M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-03 Caribbean Financial Group

Guaynabo, Puerto Rico

Caribbean Financial Group is a regional consumer finance company offering unsecured personal loans, sales finance, and related credit insurance products to middle-income individuals in the Caribbean and Central America. Caribbean Financial operates retail storefronts in Panama, Aruba, the Netherlands Antilles, Trinidad & Tobago, and Mexico.

Sell -
Mergr

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