“We think it’s very important to select a buyer that’s knowledgeable, has a good reputation and a good track record. Century Equities proved to be extremely knowledgeable, and demonstrated the ability to close the deal quickly and according to the negotiated terms.”
- David Moser, Director, Coulter & Justus
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.