Neuberger Berman Alternatives leads minority stake acquisition of Mavis Tire Express Services Corp

• Mavis was founded in 1972 by the Sorbaro family
• Latham & Watkins served as legal advisor to Neuberger Berman
• Founded in 1939, Neuberger Berman manages $436 billion in client assets as of March 31, 2023

Neuberger Berman Alternatives has led the acquisition of a minority stake in Millwood, New York-based Mavis Tires Express Services Corp, a tire and service provider.

Proceeds from the investment were used to support Mavis’s acquisition of 392 NTB Tire and Service Centers and 203 Tire Kingdom Service Centers.

Mavis was founded in 1972 by the Sorbaro family.

“We are excited to partner with management, as well as existing investors BayPine, TSG, and Golden Gate Capital to support Mavis’s continued growth. We have long admired the company and believe Mavis’s demonstrated track record of high-quality service will continue to be valued by customers in the years to come,” said J.T. Munch, managing director at Neuberger Berman Alternatives in a statement

Latham & Watkins served as legal advisor to Neuberger Berman.

Founded in 1939, Neuberger Berman manages $436 billion in client assets as of March 31, 2023.