TBC Corporation, a leader in the mobility industry and one of North America’s largest marketers of automotive replacement tires through wholesale and franchise operations, announced today that it has completed the divestment of its Midas franchise portfolio to Mavis Tire Express Services Corp. under the terms announced on March 31, 2025 and after obtaining all of the necessary approvals for the transaction. Midas will continue to operate as a standalone brand under the Mavis platform and maintain its headquarters in Palm Beach Gardens, Florida. TBC will continue to focus on driving growth and innovation in its wholesale and distribution business and expanding its Big O Tires franchise business. Financial terms of the sale are not being disclosed. Matrix Capital Markets Group, Inc., acted as the exclusive financial advisor to TBC, and Venable LLP served as legal counsel. Jefferies LLC acted as the exclusive financial advisor to Mavis, and Covington & Burling LLP served as legal counsel.
Bradley Edmister led the Venable team, which also included Jacob T. Byrne, Carol V. Calhoun, Joseph Choi, Christopher S. Davidson, Audrey Distler, Lisa Jose Fales, Paul Feinstein, Paul J. Lee, James R. Moxley, Randi M. Rubinstein, Matthew P. Schofield, Andrew E. Shapiro, Isaiah H. Smith, Elizabeth F. Stieff, Vikram K. Suryavanshi, Lisa A. Tavares, Barbara D. Tolbert, and Jeanine L. Dilly.