Private equity firm Lindsay Goldberg LLC is investing in private equity-backed Dealer Tire LLC.
Dealer Tire, headquartered in Cleveland, distributes replacement tires and parts for automotive manufacturers and dealers. The company also provides program management, logistics and information technology services to assist car makers and dealers in selling tires.
The target has been backed by Boston private equity firm TA Associates since 2009.
Lindsay Goldberg is a New York private equity firm that has about $10 million of capital under management. Earlier this year the firm invested in MBI Energy Services Inc., an oilfield services company. The firm's other investments include Intermodal Holdings LP and Axeon Specialty Products.
Debevoise & Plimpton LLP advised Dealer Tire on the transaction.
Sales of new and used cars are rising worldwide, and buyers have been scooping up car parts groups for months. For more, see 5 Buyers Find New Customers Abroad.
Recent car parts transactions include Clearlake Capital Group's acquisition of Sage Automotive Interiors in October, and Shiloh Industries Inc.'s (Nasdaq: SHLO) deal for Radar Industries, also in October.