BOSTON (Dec. 28, 2009)—A management group, led by Peter Koszo and Robert Sherkin, has completed its share purchase of Dynamic Tire Corp.
The group had bid $23.9 million for GPX International Tire Corp.'s Canadian distribution assets Dec. 7.
GPX filed for Chapter 11 bankruptcy protection Oct. 26 and was parceled into three separate entities for auction.
The new Dynamic Tire will focus on its historical strengths as a comprehensive tire distributor in Canada, as well as continue to provide tire sourcing and engineering solutions for its customers into the future, the company said.
Dynamic will continue as the exclusive source for Galaxy and Primex tires in Canada and also plans to expand upon its wide range of products and services to meet the growing needs of its customers, according to a press release.