Ramona, Tire Works now part of Greenbriar Equity aftermarket unit
RYE, N.Y. — Greenbriar Equity Group L.P. is the latest private equity investment company to jump into the aftermarket tire and auto service sector, buying Nevada-based Tire Works Total Car Care, California’s Ramona Tire Inc. and Brake Max Car Care Centers of Arizona.
Greenbriar’s entrée into the automotive aftermarket is the responsibility of David Dyckman, a former American Tire Distributors Inc. (ATD) executive who joined the Rye-based private equity firm in October 2015 as an advisory director, tasked with evaluating potential investment opportunities.
Mr. Dyckman spent nine years at ATD, starting as chief financial officer in 2006 and advancing to executive vice president and COO by 2012.
Greenbriar, which focuses exclusively on transportation and related sectors, did not disclose when it acquired the three businesses now operating under GB Auto or its investment in these acquisitions.
Ramona Tire and Tire Works management did not respond to requests for information on the sales of their businesses to Greenbriar.
The company also did not comment on any expansion plans it might have for this new business venture.
Greenbriar said it generally targets companies with enterprise values ranging from $100 million to $1 billion or more and invests $75 million to $150 million of equity capital in each transaction.
The company also will consider co-investment or partnering in larger transactions.
Greenbriar said its investors include some of the world’s largest foundations, university endowments, family offices and insurance companies.