Myers Buys Mohawk Rubber Sales Of New England For $25.50 Million

Myers Industries has acquired the assets of Mohawk Rubber Sales of New England, a tire repair distributor in the retail, commercial and retread channels. Mohawk is headquartered in Hingham, MA and has distribution centers Hingham, MA; Alpharetta, GA; Salt Lake City; and Houston.

Mohawk will be integrated into the Myers’ distribution segment.

“Mohawk and its team bring complementary geographic coverage, additional sales and customer service capability, and meaningful scale to our distribution segment,” said Mike McGaugh, president and CEO of Myers. “Mohawk’s business model is similar to our own, and this transaction is another example of our team’s ability to find accretive opportunities to expand and grow our businesses … .”

Myers financed the purchase price of $25.50 million through its revolving credit facility. The purchase price is subject to customary working capital and other adjustments and the assumption of certain liabilities of the seller. In 2021, Mohawk’s revenues were roughly $65 million.

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