“Having just completed two transactions with Century Equities, we found their firm to be an excellent buyer to work with. The Century Equities Team was professional from start to finish. They did what they said they’d do and were extremely efficient in solving problems and communicating their actions every step of the way. This was one of the smoothest transactions we’ve ever completed. Working with Century Equities was an absolute pleasure and we look forward to a long standing relationship with their firm.”
- Jerry Hopkins, Stan Johnson Company
Over a four year period, Century Equities acquired 36 locations in 10 states on a sale/leaseback basis from Tire America, a financially strong, privately owned, regional company.
This important relationship with Century Equities allowed Tire America to keep the real estate and associated long-term debt off of their balance sheet by structuring the leases as operating leases. By doing so, the transactions were relegated to disclosure in the footnotes of their audited financial statements. The sale/leaseback transactions provided Tire America with the needed capital to fuel its rapid growth.
Tire America’s “clean” balance sheet and its rapid expansion were critical factors that led Western Auto Supply to acquire Tire America. Subsequently, Western Auto Supply became a member of the Sears, Roebuck & Company family and changed the name to National Tire & Battery.
Deal Specifics
