BayPine-led consortium agreed to acquire Mavis Tire Express Services for $6bn.

BayPine-led consortium, backed by TSG Consumer Partners, agreed to acquire Mavis Tire Express Services, an independent tire and service providers in the United States, for $6bn. The transaction is expected to close in the second quarter of 2021. The investor group also includes StepStone Group. Additionally, a group of financing partners led by Jefferies and Owl Rock Capital, and including Ares Capital Management and certain affiliates and funds managed by affiliates of Apollo Global Management, is supporting the transaction. “By leveraging BayPine’s digital transformation and technology expertise, we believe there is a significant opportunity to enhance Mavis’ customer experience, capture operating efficiencies, and bolster the company’s position as the go-to brand for auto care nationwide. We look forward to working closely with management as they continue to execute upon their successful consolidation strategy,” Anjan Mukherjee, BayPine Managing Partner.