Myers Industries strengthens distribution unit with Mass. company

AKRON—Myers Industries Inc. has strengthened its distribution segment, acquiring the assets of automotive aftermarket distributor Mohawk Rubber Sales of New England Inc., including four distribution centers.

Myers, a polymer manufacturer as well as a distributor of tire shop supplies and equipment, said it has financed the deal with its revolving credit facility, but did not release other financial terms.

The acquisition brings additional scale and synergy to Myers, according to company executives, and the new D/Cs will bolster its supply chain.

Founded in 1932, Hingham, Mass.-based Mohawk Rubber Sales distributes tire-repair, retreading and related supplies across traditional and online channels. Myers will now operate Mohawk's four distribution centers, in Alpharetta, Ga.; Salt Lake City; Houston; and Hingham.

According to Myers, Mohawk posted revenues of approximately $65 million in 2021. It supports the retail, commercial and retread tire industries.

Mike McGaugh, president and CEO of Akron-based Myers Industries, said the acquisition "bring complementary geographic coverage, additional sales and customer service capability, and meaningful scale to our distribution segment."

He said Mohawk has a similar business model, and the acquisition demonstrates Myers' "ability to find accretive opportunities to expand and grow our businesses," particularly in the execution of its 3-horizon strategy.

Mohawk Rubber Owner Brian McGeoghegan said Myers' culture and values align with Mohawk's.

"We've long admired Myers Tire Supply and its leading position in the tire repair and retread market and believe that Mike and his senior leadership team have repositioned the business for long-term success," McGeoghegan said.

"We bring complementary assets and services, which will help both of our businesses achieve scale and efficiencies."

Paul Johnson, vice president of Myers' distribution segment, said the combined companies "will bring even better service solutions, support and value to our customers," creating "the largest, most experienced field and customer service teams in the tire supplies and repair industry.

"We believe we'll be in an even better position to help our customers, large and small, win in their markets, every day."

Myers also distributes metal products to industrial, agricultural, automotive, commercial and consumer markets.

Last August, Myers Industries unveiled a new logo and revamped website, which the company said is "intended to more clearly represent the company's comprehensive offerings and value to customers."