August 11, 2014
McCarthy Tire acquires Terry-Haggerty Tire
McCarthy Tire Service Co. Inc. purchased Terry-Haggerty Tire Co. from Jim and Tom Terry in a transaction that closed Aug. 11, 2014. The acquisition gives McCarthy a combined commercial-retail location and a stand-alone retread shop in Albany, N.Y.
Terry-Haggerty provides retail and commercial tire services, with the largest portion of its business devoted to servicing truck fleets throughout New York, Pennsylvania, New Jersey, Massachusetts, Vermont and Connecticut.
“Terry-Haggerty was one of the best servicing dealers in the Albany area and in upstate New York,” says John McCarthy Jr., president. “Coupled with our acquisition of Main Tire Exchange, which took place about a year and a half ago, we’ve really bolstered our service capabilities and production capabilities in upstate New York.”
The purchase increases McCarthy’s production capabilities for Bandag retreading by 200 units a day. McCarthy Tire now has seven Bandag retread plants and one OTR retread plant.
McCarthy Tire plans to add new equipment to the Bandag retread plant and will be adding new service trucks. The company also plans to give the retail/commercial store a facelift, according to McCarthy.
The addition of Terry-Haggerty Tire will add about 30 employees, increasing McCarthy Tire’s employee count to 970.
“Jim and Tom were in business for 65 years, and we picked up a lot of great people and a lot of great customers. They were really great people to deal with throughout this transaction,” says McCarthy.
McCarthy Tire Service is a fourth generation, family-owned business headquartered in Wilkes-Barre, Pa. The company was founded in 1926 by the late Joseph J. McCarthy. It is currently run by John D. McCarthy Jr. and his father, CEO John D. McCarthy.
The company is No. 22 on the MTD 100 with 45 retail, commercial-only and combined commercial-retail locations.