Its top principals are managing partner David Roux, a founder and former co-CEO and chairman of. $ + tax You may cancel your subscription at anytime by calling For more information, visit www.mavistire.com. Golden Gate Capital, Mavis current lead financial partner, will retain a minority interest in the Company. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. Sard Verbinnen & Co Their latest acquisition was Pinnacle Dermatology on October 29, 2021. Win whats next. Pat Schulte March 2 (Reuters) - BayPine LP is in the lead to acquire Mavis Tire Express Services Corp for more than $6 billion, including debt, in what would be the private equity firm's biggest ever deal . BayPine has made 1 investments. Its top principals are managing partner David Roux, a founder and former co-CEO and chairman of Silver Lake, and managing partner Anjan Mukherjee, an ex-senior managing director with Blackstone. Click BayPine was founded in 2020 to invest in tech disruption in traditional sectors of the economy. Copyright 2023 CB Information Services, Inc. All rights reserved. In addition to its core offering of tires from over 20 major brands, Mavis offers a menu of repair and maintenance services including brakes, alignments, suspension, shocks, and exhaust. Partner & Chief Financial Officer at BayPine Capital . L-R: David Roux and Anjan Mukherjee at BayPine (provided) Digital transformation specialist BayPine closed its inaugural private equity fund at approximately $2.2 billion, bringing the firm's assets under management to $3 billion in aggregate due to co-investment capital. investment banks, accountants, lawyers) play a crucial role in a companys advancement, Bayline uniquely positions itself side-by-side with management and as such, is dedicated to the long term success of its clients only above any one transaction or any potentially competing interests. Josh Cohen, a Managing Director at Golden Gate Capital, said, We are grateful for our successful partnership with David and Stephen Sorbaro and the dedication of the entire Mavis Express organization. 2023 PitchBook. Since its founding in 1987, TSG has been an active investor in the automotive, food, beverage, restaurant, fitness, beauty, personal care, household, apparel & accessories, and e-commerce sectors. Capital Markets Advisory | Bayline Capital Partners | Toronto A boutique advisory firm focused on combining its capital markets expertise with the operational expertise of top tier management teams. Mr. Roux said, In our view, the largest technology trend of our generation is the digitization of the entire economy, impacting all businesses globally. Our purpose-built team possesses what we believe to be a unique combination of operating experience in technology with investing experience in core sectors of the economy. BayPine and TSG to Accelerate Mavis Digital Transformation and Bolster Industry-Leading Products and Services, Golden Gate Capital to Remain Minority Investor in Company. You can read more about your cookie choices at our privacy policyhere. The cookie is used to store the user consent for the cookies in the category "Analytics". The fund is based in Boston, Massachusetts. Digital is in our DNA. TSG Consumer Partners LP is a leading private equity firm that partners with founders and management teams to build and accelerate growth for best-in-class consumer-facing businesses. Their latest investment was in Penn Foster as part of their Unattributed on January 1, 2021. We feel privileged for the opportunity to be part of the Mavis story and are excited to support the Companys continued success as a minority shareholder.. May 23-24, 2023 San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Sorbaro), the Co-CEO of Mavis, a portfolio company of a fund managed by BayPine, are intended to illustrate his business relationship with BayPine, including with respect to BayPines facilities as a business partner, rather than BayPines capabilities or expertise with respect to investment advisory services. Upon closing, David and Stephen Sorbaro will continue to serve as Co-Chief Executive Officers of the Company, supported by a deep and talented management team comprised of leaders from Mavis, Express Oil, Brakes Plus and Town Fair Tire, all adding significant industry operating expertise. BayPines team of established investors and seasoned operators aim to drive value in its portfolio companies by developing and implementing a comprehensive digital transformation agenda, enabling businesses to modernize and capture their full growth potential. This cookie is set by GDPR Cookie Consent plugin. BayPine Capital Partners Fund I Profile: Investments & Returns | PitchBook We are not afraid to be patient and invest behind long-term value creation initiatives for the benefit of our companies and investors. This cookie is set by GDPR Cookie Consent plugin. These cookies will be stored in your browser only with your consent. Mr. Sorbaro was not compensated in connection with his participation in this video, although he generally receives compensation and investment opportunities in connection with his portfolio company role, and is also an investor in a BayPine-sponsored vehicle and pays no fees in connection with his investment in such vehicle. For Mavis Tire Express Services David Lau, CFA - Senior Director Asset Management - DIF Capital Sources. Active, Closed, This describes the type of investor this organization is (e.g. BayPine is a private investment firm that seeks to create lasting value for the firm's investors, portfolio companies and communities in which they operate by driving innovation, digital transformation and sustainable growth in market-leading businesses across core sectors of the economy. With this strong foundation in place, we are confident BayPine and TSG will be excellent partners for the Companys next phase of growth. Certain statements herein about BayPine made by David Sorbaro (Mr. This website uses cookies to improve your experience while you navigate through the website. Only logged in subscribers of this site will be able to access the shared article. The cookies is used to store the user consent for the cookies in the category "Necessary". 510 Madison Avenue, 19th Floor New York, NY 10022 (212) 277-1500 oep.info@oneequity.com Mavis represents the ideal business that we look to partner with, and we are eager to work alongside management, WFM and TSG to accelerate the Companys next phase of technology-enabled growth, said Steve Ko, Founding Partner at BayPine. Mavis has rapidly grown its platform through the successful completion of several strategic acquisitions in recent years, including the November 2020 merger with Town Fair Tire, a leading business in New England, which continues to operate as the same deep-rooted brand founded by the Mellen family. We seek to decouple success from speed. BayPine is a private investment firm that seeks to create lasting value for the firm's investors, portfolio companies and communities in which they operate by driving innovation, digital transformation and sustainable growth in market-leading businesses across traditional sectors of the economy. Mavis has established itself as a leading national automotive services platform with a longstanding reputation for providing customers with exceptional service, said Bill Cooling, Managing Director at TSG. The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution. Rob Jackowitz - Partner and Chief Financial Officer - BayPine | LinkedIn 2 Partners and customers. Sard Verbinnen & Co Gasthalter & Co. CBI websites generally use certain cookies to enable better interactions with our sites and services. Submit your Analyst Briefing to get in front of investors, customers, and partners on CB Insights platform. Customer Service. Convene 117 West 46th Street, New York, June 7-8, 2023 (3 minutes) BayPine LP, which was co-founded by Silver Lake co-founder David Roux, has rounded up at least $1.1 billion in an initial closing on its debut fund, putting the fund more than halfway. The Fund's capital, together with the invested capital of co-investors participating directly and indirectly alongside the Fund, totals approximately $3.0 billion in the aggregate. We look forward to working closely with management as they continue to execute upon their successful consolidation strategy., Messrs. Sorbaro stated, We are excited to partner with BayPine and TSG, who bring significant financial, digital, and operational capabilities to our business. BayPine was formed in 2019 by Managing Partners David Roux, Co-Founder and former Co-CEO and Chairman of Silver Lake, and Anjan Mukherjee, former Senior Managing Director at Blackstone and Counselor to the Secretary and Deputy Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury. 9/8/2022. Golden Gate Capital is a San Francisco-based private equity investment firm with over $17 billion of committed capital. Customer Service. Pinnacle Dermatologys Acquisition of Tru-Skin Dermatology, Parallel Advisors Partners with Golden Gate Capital on Recapitalization Strategic Investment by Golden Gate Capital Will Accelerate Organic Growth and M&A Strategy, Including Acquisition of AUTUS Asset Management Acquisition of AUTUS Creates Leading RIA Firm With Approximately $5.7 Billion in Assets Under Management, Nassau Financial Group Closes Strategic Transaction and Capital Raise Nassau increases its capital by $300 million and AUM by $3.6 billion Angel Island Capital merges into Nassaus Asset Management segment Expands Nassaus asset management capabilities and accelerates Angel Islands growth strategy, LiveVox Names John DiLullo Chief Executive Officer Louis Summe to Transition to Vice Chairman on LiveVox Board Provides Preliminary Third Quarter 2022 Financial Results and Updated Full Year 2022 Guidance, BayPine raises billions for focus on digital transformation. In our view, the largest technology trend of our generation is the digitization of the entire economy, impacting all businesses globally, Roux said in a statement. Notable multi-unit consumer investments sponsored by Golden Gate Capital include The Learning Experience, Invo Holdings and Tidal Wave Auto Spa. The Fund's capital, together with the invested capital of co-investors participating directly and indirectly alongside the Fund, totals approximately $3.0 billion in the aggregate. The principals of Bayline are two seasoned veterans of Bay Street that are well aware of the complexities of the capital markets. The principals of Bayline, collectively, have more than four decades of experience in advising private and public companies and entrepreneurs to navigate their strategic direction and the Canadian capital markets. BayPine is a private investment firm that seeks to create lasting value for the firm's investors, portfolio companies and communities in which they operate by driving innovation, digital. The investments we have made to date and their success since are illustrative of our digital alpha strategy, and we look forward to continuing to execute on a robust pipeline of opportunities as the partner of choice to management teams seeking to create value for their stakeholders through the effective application of technology.. In addition to Messrs. Roux and Mukherjee, BayPines Founding Partners, Wan Ling Martello, Marius Haas, Brian Frank, and Steve Ko, possess over 180 years of collective investing and business-building experience. BayPine raises over $2bn in debut fund - Alternatives Watch Public filings of Baypine Capital Partners I raised by Baypine Holdings LP. New York Marriott Marquis, Get limited access to our industry news, analysis and data, plus regular email updates. Not the case? Moreover, we are grateful for the support of our institutional limited partners, who appreciate BayPines differentiated, purpose-driven investment approach. Leading a team of nine in Toronto and London and driving them to overperformance through encouragement, empowerment, empathy, compassion and leadership. View all fund histories. BayPine acquired 2 companies. $2,200M. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. By leveraging BayPines digital transformation and technology expertise, we believe there is a significant opportunity to enhance Mavis customer experience, capture operating efficiencies, and bolster the Companys position as the go-to brand for auto care nationwide. BayPine Exceeds Target for Inaugural Private Equity Fund and Raises BayPine raises billions for focus on digital transformation Jonathan Gasthalter/Nathaniel Garnick 2. here to register, Not for publication, email or dissemination, Kian Capital drives to the finish line with a $400m close for its third fund, In year of uncertainty, CalSTRS considers boosting PE target, American Industrial Partners sets $5bn target for latest flagship, STRS Ohio selects Callan as its new alternative investments consultant, Emerging managers well positioned for exits in next few years, The challenge of VC access and the SVB fund of funds sale, TAs Select Opportunities fundraising pause and what it means for PE. The Companys repair and maintenance products and services include tires, brakes, alignments, suspension, shocks, struts, oil changes, battery replacement and exhaust work, among other offerings. Founded in 1972 by the Sorbaro family, and with roots dating back to 1949, Mavis is a leading independent tire dealer and automotive aftermarket service provider with more than 1,100 service centers primarily in the Northeast, Midwest and Southern United States. Discerning team For more information, visit www.goldengatecap.com. Golden Gate Capital is a San Francisco-based private equity investment firm with over $17 billion of committed capital. We are thrilled to leverage our consumer expertise to support David, Stephen and the entire Mavis team as the Company looks to capitalize on a number of exciting growth opportunities, including expanding its geographic footprint and increasing its digital capabilities, added Pierre LeComte, Managing Director at TSG. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Vincent Krmer - IE Business School - Frankfurt/Rhein-Main | LinkedIn We are grateful for Golden Gate Capitals support over the past four years and are pleased they will remain investors.. Zillow has 2386 homes for sale. Primed by a vigorous deal environment, tech PE fundraising rose to dizzying heights in 2021, with 474 North American vehicles collecting an all-time high of $227bn, according to Buyouts data. A link has been emailed to you - check your inbox. The principals of Bayline are two seasoned veterans of Bay Street that are well aware of the complexities of the capital markets. By clicking Accept, you consent to the use of all strictly necessary cookies. Jefferies acted as sole financial advisor to Mavis.