Automotive

Myers Industries Sells Founding Tire Supply Business for $30M

Myers Tire Supply, a distributor that dates back to the 1933 founding of Myers Industries, has been sold to private equity firm Lion Equity Partners as Myers narrows its focus on engineered products.

Myers Industries has sold its Myers Tire Supply North America business to private equity firm Lion Equity Partners for $30 million.

Akron, OH-based Myers announced the completed transaction Aug. 31. The $30 million sale price is subject to customary post-closing adjustments.

Denver-based Lion Equity specializes in corporate divestitures and special situations, with a focus on operational improvements, organic growth and add-on acquisitions at its portfolio companies.

Myers Tire Supply (MTS) distributes tools, equipment and supplies for the tire, wheel and under-vehicle service industry. Its customers include tire dealers, automotive service centers, commercial fleets and retreaders throughout North America. The business has 233 employees, including approximately 77 at its Akron headquarters, along with employees in remote sales roles and at four distribution centers.

MTS describes itself as the largest U.S. distributor of tools, supplies and equipment for its market. Major product lines include tire changing and balancing equipment, vehicle lifts and jacks, wheel alignment equipment, impact wrenches, tire repair products, TPMS equipment and shop supplies.

The divestiture is part of Myers Industries’ “Focused Transformation” strategy to concentrate the company on engineered resin and composite products serving infrastructure, industrial, consumer, food and beverage, and vehicle markets. Myers said the transaction will strengthen its balance sheet and allow it to direct more resources toward its core businesses and growth platforms.

Myers launched a strategic review of MTS in July 2025, when the business had generated $189 million in revenue over the previous 12 months. The company formally initiated a sale process that October and began reporting MTS as discontinued operations in the first quarter of 2026.

The sale also closes a major chapter in Myers’ history. Brothers Meyer and Louis Myers founded Myers Tire Supply in Akron in 1933. The business later expanded into manufacturing, and the company adopted the Myers Industries name in 1963.

KeyBanc served as Myers’ exclusive financial adviser on the transaction, while Vorys, Sater, Seymour and Pease served as legal adviser.