Dealer Tire to launch $715 million credit facility on Dec. 2

By Sara Rosenberg

New York, Nov. 25 – Dealer Tire LLC is set to hold a bank meeting on Dec. 2 to launch a $715 million credit facility, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

The facility consists of a $100 million five-year revolver and a $615 million seven-year term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Lindsay Goldberg LLC from TA Associates.

Closing is expected in December.

Dealer Tire is a Cleveland-based distributor of replacement tires and parts for automotive OEMs and their dealers.

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