Somerset Tire Service, Inc
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Somerset Tire Service, Inc - overview
Established
1958
Location
Bridgewater, NJ, US
Primary Industry
Retail
About
Somerset Tire Service, Inc. specializes in tire sales and automotive services, providing essential maintenance offerings to enhance vehicle performance and safety across diverse customer segments in the U. S. Founded in 1958 in Bridgewater, US, Somerset Tire Service, Inc.
focuses on tire and automotive services. The company was acquired by Mavis Discount Tire in August 2015 for USD 48 mn. Mavis Tire Supply LLC led the most recent funding round, contributing to growth strategies developed post-acquisition. STS Tire & Auto offers a comprehensive range of automotive services centered around tire sales and maintenance.
They provide various tire brands, including Bridgestone, Michelin, and Goodyear, along with services such as brake inspections, oil changes, wheel alignments, and battery checks. Their clientele includes individual consumers and businesses in the automotive sector, with a strong market presence in regions like Texas. STS Tire & Auto generates revenue primarily through tire sales and automotive services, engaging directly with consumers and businesses. Each transaction includes tire purchases with potential promotions and competitively priced services like oil changes for USD 43.
99 and full synthetic oil changes for USD 84. 99. This direct-to-consumer model is supported by partnerships with tire manufacturers, ensuring effective distribution of their offerings. Looking ahead, Somerset Tire Service, Inc.
plans to leverage the USD 48 mn raised during the acquisition to enhance product offerings and expand into new markets. They aim to introduce new tire models and automotive services by late 2023, targeting growth in the southeastern U. S. market.
The funding will support these initiatives, focusing on improving service efficiency and broadening their customer base.
Current Investors
Mavis Tire Supply LLC
Primary Industry
Retail
Sub Industries
Automobile Repair
Website
www.ststire.com
Verticals
Manufacturing
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Somerset Tire Service, Inc - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Somerset Tire Service, Inc | - |
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