Intrepid announced today that it acted as the exclusive financial advisor to Lakin Tire (Lakin) in connection with its acquisition by Liberty Tire Recycling (Liberty).
Lakin, headquartered in Santa Fe Springs, Calif., and with operations focused throughout the Western United States and the Northeast, is one of the most established and technologically advanced tire removal and recycling companies in the U.S. In 2019, the company collected over 30 million tires from more than 6,500 customers including national and independent tire dealers, automotive service centers, and auto dealerships.
“From the time my great-grandfather started Lakin Tire over 100 years ago, we’ve provided best-in-class customer service with environmentally-friendly tire recycling solutions. Partnering with Liberty is an exciting step in the growth trajectory of our company, as their innovative technology will allow us to deliver our solutions to even more customers nationwide,” remarked Bob Lakin, CEO of Lakin. “Intrepid demonstrated incredible execution capabilities in keeping all parties aligned during a turbulent period. Their deep understanding of Lakin’s business, culture, and the goals of our stakeholders enabled them to help guide us to the best possible outcome for Lakin.”
“Lakin has established a world class reputation for eco-friendly quality and market leadership over their many years in business. This new partnership with Liberty is a truly exciting next step in the company’s continued growth. Congratulations to the teams at Lakin and Liberty for creating a true industry leader,” said James Freedman, Managing Director at Intrepid.
“Bob and his team have built an incredible business, and it was an honor to work with them to find the right partner and the right structure to take their business to the next level while also maintaining future upside for shareholders,” added Jeremiah Mann, Managing Director at Intrepid.
Bob Lakin and senior members of Lakin’s management team will take on expanded roles within the combined company to drive continued world-class customer service and growth. Bob Lakin and other Lakin shareholders will maintain an equity ownership stake in Liberty.
Deal Team Contacts
About Intrepid Investment Bankers
Intrepid provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage breeds a culture that embraces teamwork, tenacity and creativity to help our clients win big. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through its active participation in Oaklins, an exclusive global alliance of M&A advisory firms.