- GPX International Tire Corp., a leading global provider of specialty “off-the-road” (OTR) tires, filed for bankruptcy and retained TM Capital to pursue restructuring alternatives
- TM Capital assisted GPX in completing the sale of its OTR tire business unit to Alliance Tire, a portfolio company of Warburg Pincus based in Israel and India
- Alliance Tire had been the “stalking horse” bidder for the OTR tire business unit, and won a bankruptcy auction for this division following receipt of a topping bid from Titan International (NYSE)
- In aggregate, TM Capital assisted GPX in completing three Section 363 bankruptcy sales of its business units totaling almost $100 million in value
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TM Capital's focus, dedication and skill were key to our successful and timely completion of these complex transactions despite unprecedented challenges in the markets we serve.”Craig Steinke, CEO, GPX International Tire Corp.