Tire Wholesalers has been acquired by Turbo Wholesale Tires, a portfolio company of Kingswood Capital Management

CFI USA (P&M Corporate Finance) is pleased to announce that it served as the exclusive financial advisor to Tire Wholesalers Inc. (“TWI” or the “Company”) in its sale to Turbo Wholesale Tires, Inc. (“Turbo”), a portfolio company of Kingswood Capital Management LP (“Kingswood”).

Founded in 1970 by Ross Kogel Sr., TWI is one of the largest independent tire distributors in the Midwest. TWI operates out of five locations, including three in Michigan, one in metro Chicago, and one in Salt Lake City, Utah. The Company recently expanded its 100,000 square foot metro Detroit facility into a new, technology enabled, 275,000 square foot warehouse and distribution center. This facility will be used as a template for new location growth, as Turbo enters additional markets.

Since 1983, Turbo has been a trusted tire supplier, leading the industry with a keen focus and understanding of the independent tire dealer. Turbo has evolved into a national and international supplier of its proprietary (Lexani, Lionhart, and Rolling Big Power) and third-party brands while continuing to stay true to its service roots. Turbo’s understanding of consumer trends has led to the development of unique tire sizes and tread patterns that have driven not only rapid growth but the increasing attention of the trade and industry influencers alike.

Kingswood Capital Management, LP is a private investment firm primarily focused on investing in businesses in transition. In addition to access to capital, Kingswood brings relevant industry relationships and a broad network of internal and external operating resources that can strengthen the businesses it partners with and enhance value. Kingswood has extensive experience with complex transactions where it provides tailored solutions that ensure the best outcome for all constituents.

Joe Wagner, Managing Director, added “The Kogel family built an industry powerhouse and we are thrilled to play a small part in finding the right partner for TWI. The new combined entity creates a nationally scaled business with unique brand and service differentiation to better serve vendor partners and customers. More importantly, the family’s legacy will continue for years to come. A great outcome for all involved.”

The transaction closed in May 2023.


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