Defer Tire reaches agreement with Tire Source in Northeast Ohio

Oct. 22, 2018
Defer Tire, a well-established independent tire and automotive service center in Streetsboro, Ohio, was recently sold to Tire Source, a small, growing chain of independent Goodyear Tire & Automotive Service Centers in Northeast Ohio.

Streetsboro, OH – Defer Tire, a well-established independent tire and automotive service center in Streetsboro, Ohio, owned and operated by Mark Defer, was recently sold to Tire Source, a small, growing chain of independent Goodyear Tire & Automotive Service Centers in Northeast Ohio.

Leveraging over 35 years of experience as both an aftermarket business owner and technology executive to become an automotive aftermarket-specific business broker, Art Blumenthal LLC managed the marketing and ultimate sale of the business.

Originally founded in 1979 in a small three-bay facility with two employees, the business later moved into a stunning 10,000-sq.-ft. home. Defer was contemplating retirement after almost 40 years of ownership and made the needs of his long-time customers and employees top priorities in his exit planning strategy.

“As I pondered plans to retire, I pictured a future for the business which included a continuation of honest, reliable service to our many customers, as well as a place of employment which treated its employees well,” said Defer. “Multiple generations of local families have been our customers and I didn’t want to let them down. Some of our valued employees have tenures of over 20 years with us and deserve having their service recognized and respected by new management.

“With all of that in mind, I wanted to be highly selective in finding a new owner, so I contacted Art and together we developed a scaled-down marketing plan for Defer Tires.”

The plan did not include nationwide or Internet listings, but rather confidential inquiries by Blumenthal with his contacts at various small and large chains with an Ohio presence. Owned by Tom White, Tire Source operates in the Akron-Canton-Medina areas of OH  area.

“When Tom White and I were introduced we seemed to have almost instant business chemistry,” added Defer. The agreement calls for Defer to serve as a consultant/ambassador for the foreseeable future, working daily in the store for a next year or so.

“It’s ironic that before the sale I had the strong desire to stop working, but now that I am no longer the owner with the inherent myriad problems and sleepless nights, I feel reinvigorated and thoroughly enjoy working alongside the employees with the store’s customers in a way that I haven’t for a long time,” he said. “The buck no longer stops here, so I can have a good time.”

When asked about the newest addition to the Tire Source brand, White said, “The acquisition of Defer Tire complements our expansion plans beautifully. Our motto regarding that topic is that we grow where it makes sense to grow. Art Blumenthal zeroed in on the possibilities and shared what I came to realize after meeting with Mark Defer and doing financial due diligence of the proposal…that this is a perfect fit for our family of stores demographically and geographically.”

With 12 bays, the location is large with an eye-catching building design. “We will be changing over to be a Goodyear G3X dealer selling Goodyear, Dunlop and Kelly, and also offering Continental, General and Hercules, with the clear marketing message to our customers that we can get them any brand they want,” said White.

Blumenthal noted that right now economic condition forecasts and renewed business optimism are fueling growth activities among expansion minded organizations looking to leverage their economies of scale and team resources.

“I am now actively working with many more individual entrepreneurs and corporate buyers seeking new business opportunities and expansion and matching them with sellers looking for a retirement exit strategy,” he said.

About Art Blumenthal LLC
Established in 2010 and leveraging over 35 years of experience as both an aftermarket business owner and aftermarket technology executive, Art Blumenthal LLC (www.art-blumenthal.com) provides business intermediary and advisory services to both buyers and sellers of industry businesses of all sizes.  Blumenthal is a member of the International Business Brokers Association (IBBA), representing a network affiliation of 2,000 business brokers in all 50 states, which leverages and strengthens nationwide reach. He is a Certified Business Intermediary (CBI), having completed IBBA’s rigorous educational, testing, and experience requirements to become accredited.

Sponsored Recommendations

ZEUS+: The Cutting-Edge Diagnostic Solution for Smart, Fast, and Efficient Auto Repairs

The new ZEUS+ simplifies your diagnostic process and guides you through the right repair, avoiding unnecessary steps along the way. It gives you the software coverage, processing...

Diagnostic Pre- and Post-scan Reports are Solid Gold for Profitability

The following article highlights the significance of pre-scans and post-scans, particularly with Snap-on scan tools, showcasing their efficiency in diagnosing issues and preventing...

Unlock Precision and Certainty: TRITON-D10 Webinar Training for Advanced Vehicle Diagnostics

The TRITON-D10 lets you dig deep into the systems of a vehicle and evaluate performance with comparative data, systematically eliminating the unnecessary to provide you with only...

APOLLO-D9: Trustworthy Diagnostics for Precision Repairs

The APOLLO-D9 provides the diagnostic information and resources you need to get the job done. No more hunting through forums or endlessly searching to find the right answers. ...

Voice Your Opinion!

To join the conversation, and become an exclusive member of Vehicle Service Pros, create an account today!