Partnership the ‘next stage’ in TGI growth

US based private equity fund Transportation Resource Partners, who focuses on investing in growth-oriented businesses in the transportation sector, has entered into a partnership with Tire Group International, Inc. and the McLarty Companies, who are active in the transportation and automotive retail and distribution sectors. While financial details of the deal between the tyre wholesaler, McCarty and the $245 million private equity fund have not yet been disclosed, Tire Group International CEO Tony Gonzalez says he is positive about his company’s joint future with its new partners.

“TGI is very excited about our future; our goal has always been to be the best at what we do,” Gonzales stated. “We have partnered with companies that share the very same ideals as part of their core and also share the vision for the growth of TGI. TRP, with its close association with the Penske organisation, and McLarty are leaders in their industries and bring a vast amount of resources to our business.  Their expertise in distribution and building businesses both in the USA and Latin America will help TGI take the next step in its rapid growth.”

Dave Mitchell, managing director at TRP, added, “We are pleased to be partnering with TGI to continue to execute the company’s growth strategy.  Tony and his team have done a great job establishing TGI as the clear leader in distributing tyres to Latin America.  We are enthusiastic about providing capital, resources, and expertise to support the company’s continued success.”

“The McLarty Companies couldn’t be more pleased to be partnering with TGI and TRP,” commented Franklin McLarty, senior vice-president of the McLarty Companies. “Given our family’s longstanding commitment to Latin America we believe that we’re well positioned to work collaboratively with our partners to support TGI’s growth in the region.”