Goodturn Tire Looks to Grow Through Acquisitions
by: Mike Manges
Goodturn Tire & Auto is looking for more tire dealerships to add to its network, which currently includes 24 locations.
Founded by David Manning and Seth Sands, who previously worked in investment banking, Goodturn Tire & Auto has completed a number of tire and auto service center acquisitions throughout Florida, Michigan and North Carolina over the past three years.
The privately owned company finalized its latest purchase, the acquisition of Naples, Fla.-based Collier Car Care, last week.
Other holdings include Cary, N.C.-based Atlantic Tire & Service, which Goodturn Tire & Auto acquired from its founder, the late Anthony Blackman, in 2023; Lansing, Mich.-based Chuck’s Garage; Hal’s Auto Clinic and The Detroit Garage, both based in Michigan; and Adelphia Auto and Tire, Apex Automotive, Golden Gate Tire & Service, Scott’s Tire Service and Great Bear Automotive, all of which are located in Florida.
All stores within Goodturn Tire & Auto’s portfolio sell tires and provide automotive service, Manning told MTD in an exclusive interview.
“Goodturn is the holding company for our brands,” he said. “We’ve taken the approach that we want to invest in local brands on a local basis and then have something that’s a little broader across multiple markets.”
Sands told MTD that Goodturn Tire & Auto is looking for well-established tire dealerships and auto service centers with stellar reputations, whose owners want to exit the industry while preserving the legacy they have built.
“We don’t take on turnarounds,” he explained. “We really look to buy shops that are quality assets. We don’t want to grow just for the sake of growing. We want to have premier brands.”
“We tell everyone up front, ‘If you’re just looking for a price, we’re not the right buyer for you, but if you’re looking for someone to preserve your legacy and provide training and resources for your shop to grow and expand, we’re a great partner,'” said Manning.
Manning and Sands told MTD they made a deliberate decision to allow acquired dealerships to continue to operate under their own names and formats.
“Our belief is there’s a significant amount of brand equity in these shops,” said Manning, who added that with some larger acquirers, “there’s a desire to have a homogenous brand. We believe there’s something (positive) about preserving that local feel.”
He cited Atlantic Tire & Service as an example.
“The Atlantic Tire brand in the Raleigh/Durham, N.C., area has been around for 35 years. Anthony (Blackman) was 100% committed to his customers and his community” and built a business “that was respected.”
Manning added that Goodturn Tire & Auto “is still toying” with the idea of building greenfield locations, but has set its sights on growing through additional acquisitions with focus on the Midwest and Southeast.
“We think there are a lot of things we can do in the areas we’re in today.”
Goodturn Tire & Auto, which recently added Christian Seem, former chief operating officer at Spotless Car Wash Brands, to its executive team, does not have a store count goal. (Seem will serve as Goodturn Tire & Auto’s president.)
“In short order, we’ll announce … (that we have) close to 30 stores,” said Sands. “In five years, do we think we can be (at) 75 or 100 stores? Absolutely. But just adding stores” for its own sake “isn’t how we think about the business. What’s first is taking care of our customers and employees. Unit growth will follow by focusing on the right things.”
Original Article: https://www.moderntiredealer.com/retail/article/55020508/goodturn-tire-looks-to-grow-through-acquisitions
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