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Matrix Advises TBC Corporation on the Sale of Midas International to Mavis Tire

News Source: Matrix Capital Markets Group Inc.

RICHMOND, Va., and BALTIMORE, Md., June 16, 2025 (SEND2PRESS NEWSWIRE) — Matrix Capital Markets Group, Inc. has advised TBC Corporation on the sale of Midas International, LLC, a franchisor of automotive repair and maintenance services, to Mavis Tire Express Services Corp., a leading provider of automotive repair and maintenance services and one of the largest independent tire and service providers in North America.

Matrix Capital Markets Group
Image caption: Matrix Capital Markets Group.

Midas is a globally recognized automotive service brand with more than 2,000 franchised and licensed stores in roughly 20 countries, including nearly 1,200 franchised locations across the United States and Canada. For over six decades, Midas and its franchisees have provided comprehensive auto care services ranging from brake and exhaust repair to tires, oil changes, and other vehicle maintenance.

The transaction marks a significant milestone for TBC, a joint venture between Sumitomo Corporation of Americas and Michelin North America, Inc., as it continues to focus on innovation and growth in its core wholesale and distribution business and expand its Big O Tires franchise operations.

With the close of this transaction, Mavis’s retail footprint across its brands will span more than 3,500 stores in the United States and Canada, including nearly 1,300 franchised locations. Midas will continue to operate as a standalone brand under the Mavis platform and maintain its headquarters in Palm Beach Gardens, Florida.

Matrix provided merger and acquisition advisory services to TBC, which included valuation advisory, conducting a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by Stephen Lynch, CPA, CFA, Managing Director; Kyle Tipping, CFA, Vice President; James Mickelinc, CPA, Senior Associate; and Ethan Sannes, Analyst.

Don Byrd, Chief Executive Officer of TBC Corporation, commented, “We greatly appreciate the professionalism, responsiveness, and attention to detail that the Matrix team demonstrated throughout every phase of the transaction. Their team played a critical role in not only expertly executing the sale process but also in providing thoughtful guidance that helped us navigate the transaction with clarity and confidence.”

“We are honored to have advised TBC on this transformative transaction,” said Mr. Lynch. “Midas has a storied legacy and continues to be a trusted brand within the automotive services industry. We are grateful to have been a part of this story, and we believe Mavis is well-positioned to support the continued success of the Midas franchise network.”

Bradley Edmister of Venable LLP served as legal counsel for TBC.

About Matrix Capital Markets Group, Inc.

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with an additional office in Baltimore, MD. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies. Matrix’s advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve outs, special situations, management buyouts, corporate valuations and fairness opinions.

Our industry focused, dedicated sector advisory groups serve clients in the automotive aftermarket, downstream energy & convenience retail, healthcare and outdoor recreation & marine markets. Matrix’s automotive aftermarket practice provides advisory services to automotive service and repair centers, tire dealers, quick lube oil change facilities, car wash chains, collision and glass repair, brick-and-mortar and e-commerce retailers of automotive parts and accessories, distributors of tires and automotive parts, and manufacturers of OEM and aftermarket parts. Our broad sector advisory groups serve clients in a wide range of industries including business services, consumer, diversified industrials, restaurants and transportation & logistics.

For additional information or to contact our team members, please visit https://matrixcmg.com/.

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC

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This press release was issued on behalf of the news source (Matrix Capital Markets Group Inc.), who is solely responsible for its accuracy, by Send2Press Newswire.

To view the original story, visit: https://www.send2press.com/wire/matrix-advises-tbc-corporation-on-the-sale-of-midas-international-to-mavis-tire/

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