(Bloomberg) -- Private equity firm Lindsay Goldberg is considering a sale of tire distributor Dealer Tire LLC, according to people with knowledge of the matter.
The New York-based buyout firm has held talks with financial advisers about strategic options for the business, said the people, who asked not to be identified because the information is private. Dealer Tire is expected to fetch more than $2 billion should the firm decide to pursue a sale, the people said. No final decision has been made and Lindsay Goldberg may choose to keep the company, they said.
A spokesman for Lindsay Goldberg declined to comment. A representative for Dealer Tire didn't respond to requests for comment.
Lindsay Goldberg agreed to buy Cleveland-based Dealer Tire from peer TA Associates in 2014. The buyout firm, which also owns stakes in industrial companies Big Ass Solutions and Crown Paper Group Inc., later refinanced the company, paying itself and its backers a dividend.
Dealer Tire, founded in 1999, supplies replacement tires for cars including Audis and Jaguars to 10,000 U.S. new-vehicle dealerships, according to the company's website. It's led by founders and brothers Dean and Scott Mueller, who operate as president and chief executive officer respectively.
To contact the reporter on this story: Kiel Porter in New York at kporter17@bloomberg.net.
To contact the editors responsible for this story: Elizabeth Fournier at efournier5@bloomberg.net, Michael Hytha
©2018 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
