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Mavis Tire Mulls IPO Amid Market Rebound
14 Feb
Summary
- Mavis Tire Express Services Corp. is considering a US IPO.
- A potential listing could occur as soon as this year.
- Private equity investors acquired Mavis in 2021.
Mavis Tire Express Services Corp., a significant player in auto repair and tire services with well-known brands such as Midas and Tuffy, is reportedly considering a US initial public offering. The company, whose history dates back to 1949, is currently in preliminary discussions with financial advisors to prepare for a potential listing.
A listing could potentially materialize as early as this year, reflecting a broader trend of increased IPO activity from companies held within private equity portfolios. This year has already seen substantial IPOs, with companies like Forgent Power Solutions Inc. raising significant capital.
An investor group led by BayPine LP, in partnership with TSG and a Sorbaro family-controlled entity, acquired Mavis in 2021. Neuberger Berman's Alternatives further invested in the company in 2023. Despite ongoing deliberations, Mavis has not made a final decision and could opt not to proceed with the IPO.
