Raben Tire buys Indiana dealership
Raben Holdings LLC, which does business as Raben Tire Co. Inc., has acquired the assets of Coogle Tire Service in Otterbein, Ind.
“Coogle Tire has been servicing central and northern Indiana and central Illinois since 1974 and is known as a leading provider of agricultural tires in its markets,” says Eric Glover, president of Raben Tire Co.
"Not only does this acquisition align well with our growth strategy, it reinforces Raben Tire’s commitment to extend the reach of our network to better serve customers across the Midwest," says Glover.
In addition to serving the local agricultural market, Coogle Tire provides sales and service of medium truck, construction and specialty tires as well as automotive repair through four bays and a truck shop.
The dealership was founded by Garry Coogle in 1974. It will operate under a new name, Coogle Raben Tire.
"We have been truly fortunate to have served our customers for more than 40 years," says Coogle. “We know our customers will be in good hands with Raben Tire and will receive the same high quality products and services they have received from us over the years.”
A fund managed by Palladium Equity Partners LLC made a significant investment in Raben Tire at the end of 2014. "My partners and I look forward to supporting the continued growth of Raben," says Luis Zaldivar, a managing director of Palladium. “Through Raben Tire, we seek to accelerate the consolidation of a fragmented industry by providing family-owned businesses with new liquidity and transition opportunities.”
Raben offers new and retreaded tires as well as automotive services to retail, commercial, and wholesale customers. The company operates 26 stores, two wholesale distribution centers, and three retreading facilities across five Midwestern states. For additional information, visit www.rabentire.com.
Palladium is a middle market private equity firm with over $2.0 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Palladium is based in New York City. For more information, visit www.palladiumequity.com.
For recent news on Raben, see: