Covington Advises TPG’s American Tire Distributors in $365 Million Acquisition

Covington Advises TPG’s American Tire Distributors in $365 Million Acquisition

2/24/2014

NEW YORK, February 24, 2014 — Covington & Burling advised American Tire Distributors in the acquisition of Terry’s Tire Town from Talisman Partners for up to $365 million. American Tire, a portfolio company of TPG, is a wholesale distributor of replacement tires throughout the United States and Canada. The acquisition is expected to close at the end of March, pending antitrust clearance.

The Covington team was led by Scott Smith and included Larry Bartenev (corporate), Peter Schwartz (finance) and Rob Heller (tax). Covington worked with KL Gates’ North Carolina office in representing American Tire Distributors.