Liberty Tire Recycling adds three US tire businesses

Liberty Tire Recycling, a portfolio company of I Squared Capital, has acquired three add-on businesses, PE Hub reported. The acquisitions cover three US locations: All American Tire in Fort Worth, Texas, a Louisiana tire recycling business identified by PE Hub as Colt Tire Recycling, and Genan Inc. in Houston.

PE Hub identified the three targets as All American Tire, Tire Recycling and Genan Inc. In its summary of the transaction, the publication also described the Louisiana operation as Colt Tire Recycling. No purchase price, financing details or closing date were reported.

The deals add to Liberty Tire Recycling’s operating base in the US tire recycling market. In private equity, an add-on acquisition is typically executed by an existing portfolio company to broaden geographic coverage, add processing capacity or bring in related customer relationships. The acquiring company remains the operating platform, while the purchased businesses are folded into that platform or managed alongside it.

Genan executive to join Liberty role

PE Hub reported that Thomas Boehme of Genan will keep leading US growth efforts for Genan through a new role with Liberty. Genan Inc. is the US subsidiary of Genan A/S, according to PE Hub.

The Genan element of the transaction gives Liberty a Houston-based business linked to an international parent, while All American Tire brings a Fort Worth presence. The Louisiana business adds another Gulf Coast location, based on the details reported by PE Hub.

I Squared Capital backs Liberty Tire Recycling as a portfolio company. The transaction fits the common private equity model in which a sponsor-owned platform pursues smaller acquisitions within a fragmented services or industrial market. The model can allow a platform to assemble local or regional operators under a larger ownership structure, though PE Hub did not provide operational targets or integration plans for these acquisitions.

Liberty Tire Recycling operates in a sector tied to end-of-life tire collection and processing. Tire recyclers typically collect used tires and process them into materials that can be used in downstream applications, subject to customer demand and regulatory requirements. PE Hub classified the transaction under business services.

The available transaction details are limited to the identities and locations of the acquired businesses, Liberty’s ownership by I Squared Capital, Genan Inc.’s relationship to Genan A/S, and Boehme’s continuing US growth role through Liberty. PE Hub did not report whether the sellers retained any ownership interest or whether management teams at All American Tire or the Louisiana business will remain in place.

This story draws on original reporting from PE Hub.