Mahansaria Tyres Private Limited (MTPL) acquires American wholesale tire distributor.
In a bid to build a global, market leading Off-Highway tire business, Mahansaria Tyres Private Limited (MTPL) has reached an in-principle agreement to acquire majority stake in Tyres International Inc. (TI). This is the first step by MTPL in building its distribution network in North America. Tyres International would distribute MTPL’s Ascenso brand of agricultural and construction tires in the United States, whilst continuing to act as a distributor for Westlake commercial truck tires and Sunrise commercial truck wheels. The Westlake brand of commercial truck tires is manufactured by ZC Rubber, one of the world’s largest tire manufacturers, with whom TI has enjoyed a long-standing relationship of more than 20 years. Through this investment, the companies aim to continue the development of TI as a leading wholesale tire distributor in the United States of America. Mr. Yogesh Mahansaria, Founder of MTPL, says, “We have known Mr Marty Bezbatchenko (Principal of TI) for more than 15 years and have the highest regards for his deep knowledge and experience in the American tire market. We are excited about the partnership with Marty and his son, Michael, who will continue to manage the business for us. We look forward to support TI’s development in the coming years.” “50 years after the foundation of TI, it is time to set the course for a foreseeable future”, says Mr. Marty Bezbatchenko. “The combined offering of Westlake commercial truck tires, Sunrise commercial truck wheels and Ascenso agriculture and construction tires, supported by a strong and dedicated team, opens up new opportunities in a highly competitive market”, he concludes. MTPL was advised by FOCUS Investment Banking, LLC (USA) and Percipient Capital Advisors (India) for this transaction.
MTPL is a company owned and promoted by the renowned Mahansaria Family, consisting of Father, Mr. Ashok Mahansaria and Son, Mr. Yogesh Mahansaria. MTPL has set up a greenfield Off-Highway Tire Manufacturing plant (tires used in agriculture and construction machinery) with an investment in excess of US$ 110 million. The 127-acre manufacturing facility is located in Gujarat, India, and commenced production in September 2020. Currently the Ascenso brand of tyres is available in over 45 countries around the world. The Mahansaria family has more than 30 years of experience in the tire industry. During this period, they have built two industry leading Off-Highway Tire businesses, with MTPL being their third venture in this space.
TI, based out of Stow, Ohio is a leading American wholesale tire distributor, with warehouses in Ohio and Nevada. It is one of the main distributors of ZC Rubber’s Westlake brand of commercial truck tires and Sunrise commercial truck wheels in the USA.
For Further Information Contact:
Mr. Sumit Khare
President – Sales Mahansaria Tyres Pvt Ltd
+91 22 4348 1600
Mr. Marty Bezbatchenko
President Tyres International Inc
+1 330-374-1000 x3006