Mavis is a leading independent tire retailer and wholesaler.
October 2014 – Present
ONCAP invested in Mavis Discount Tire (“Mavis”) to acquire a minority stake from the company’s founders. The founding partners maintained a majority ownership interest. Subsequent to the initial investment in Mavis, ONCAP partnered with the founders to acquire Somerset Tire Service, Inc. (“STS”), which has a contiguous footprint to Mavis, doubling the size of the company.
Based in Millwood, New York, Mavis is a leading independent tire retailer and wholesaler. The company has more than 330 tire retail locations across five states including New York, New Jersey, Pennsylvania, Connecticut and Massachusetts. Mavis has approximately 3,300 employees and sells approximately three million tire units annually.
Mavis is a leader in its industry with several attractive investment attributes including:
(i) strong free-cash-flow characteristics; (ii) a proprietary operating system which results in higher unit volumes per location and higher margins than its competitors; (iii) an experienced management team; (iv) diversity by site, customer and supplier; and
(v) a compelling growth profile. ONCAP’s investment thesis is to leverage Mavis’ current infrastructure and operating system to build a larger, more geographically diversified retail tire business through new store openings and add-on acquisitions in both new and existing markets.