Back to News
Private Equity

Bain-Backed Dealer Tire Adds Body Shops

|
Published: January 26th, 2020
Bain Capital-backed Dealer Tire is acquiring Dent Wizard after a roughly five-year hold by Gridiron Capital, which bought the St. Louis body shop operator from H.I.G. Capital.

Bain Capital-backed Dealer Tire LLC said on Monday, Jan. 6, it agreed to pay an undisclosed sum to acquire Dent Wizard LLC, a St. Louis-based automotive reconditioning specialist owned by Gridiron Capital LLC.

Cleveland-based Dealer Tire said the deal will create the leading after-sales dealer services platform in North America.

For its part, New Canaan, Conn.-based Gridiron Capital is exiting Dent Wizard after acquiring the company in 2015 from H.I.G. Capital LLC. H.I.G. carved out the business in 2010 from Manheim Auto Auctions, a unit of Cox Enterprises Inc.

Reports surfaced in 2017 of a potential sale of Dent Wizard, according to The Wall Street Journal. At the time, the auto body repair shop company was expected to attract a price of $1 billion or more.

Dent Wizard, which traces its roots to 1983, has more than 7,000 customers and employs more than 2,300 auto body technicians.

Editor’s note: The original version of this article, including advisers and other details, was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

This Content is Only for The Deal Subscribers

The Deal provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control to institutional investors, private equity, hedge funds and the firms that serve them.

If you’re already a subscriber, log in to view this article here.

More From Private Equity

Private Equity

Golden Gate Exits Infor Following 18-Year Hold

By Steve Gelsi
|
Published: February 12th, 2020
Koch Equity acquires the rest of business cloud software specialist Infor in a deal that will net Golden Gate Capital a profit of about $3 billion.
Mergers & Acquisitions

Drinks With The Deal: Ted Smith of Union Square Advisors

By David Marcus
|
Published: February 11th, 2020
Sullivan’s head of M&A talks to The Deal's David Marcus about his recent work for Tiffany’s, Novartis and Amgen, the challenges consumer goods companies face, and his favorite bars in Hong Kong, Tokyo and New York.
Mergers & Acquisitions

Vista Exits Risk, Compliance Business Regulatory DataCorp

By Chris Nolter
|
Published: January 31st, 2020
After holding Regulatory DataCorp for a little more than three years, Vista Equity Partners is selling the risk and compliance data and services company to Moody’s for $700 million.