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Global, Industrials | Mergers & Acquisitions, Restructurings

GPX Completes Bankruptcy Sale of U.S. Tire Unit

  • GPX International Tire Corp., a leading global provider of specialty “off-the-road” (OTR) tires, filed for bankruptcy and retained TM Capital to pursue restructuring alternatives
  • TM Capital assisted GPX in completing the sale of its OTR tire business unit to Alliance Tire, a portfolio company of Warburg Pincus based in Israel and India
  • Alliance Tire had been the “stalking horse” bidder for the OTR tire business unit, and won a bankruptcy auction for this division following receipt of a topping bid from Titan International (NYSE)
  • In aggregate, TM Capital assisted GPX in completing three Section 363 bankruptcy sales of its business units totaling almost $100 million in value

has sold its U.S. and South African operations, including the Galaxy and Primex brands, to

a portfolio company of

GPX Completes Bankruptcy Sale of U.S. Tire Unit

TM Capital assisted GPX International Tire in completing the bankruptcy sale of its U.S. Tire Division to Alliance Tire

Details

For more information, contact our industrials team at:

industrials@tmcapital.com

Client Testimonial

TM Capital's focus, dedication and skill were key to our successful and timely completion of these complex transactions despite unprecedented challenges in the markets we serve.”
 Craig Steinke, CEO, GPX International Tire Corp.