Mavis Tire has selected underwriters for its $2 billion IPO — Bloomberg reports

2026-02-20 22:02:20

Investing.com – According to Bloomberg, citing sources familiar with the matter, Mavis Tire Express Services Corp., a provider of automotive repair and tire services under the Midas and Tuffy brands, has selected underwriters for its initial public offering.

Sources say the company is working with Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS) to prepare for an IPO, which could happen as early as this year. Some insiders indicate that the stock offering may raise approximately $2 billion.

Sources also state that Mavis, founded in 1949, is collaborating with Jefferies Financial Group Inc. (NYSE:JEF), JPMorgan Chase (NYSE:JPM), and Morgan Stanley (NYSE:MS) to prepare for the offering. It was revealed that the company had preliminary discussions with advisors regarding the listing earlier this month.

In 2021, an investor group led by BayPine LP, in partnership with TSG and a company controlled by members of the Sorbaro founding family, acquired Mavis from Golden Gate Capital, with the latter retaining a minority stake. In 2023, Neuberger Berman’s Alternatives division led a partial stake acquisition.

Sources say discussions are still ongoing, and specific details may change.

This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes