Coker Tire eyes growth, rebrands as Legendary Companies

CHATTANOOGA, Tenn.—Collector car tire and wheel distributor Coker Group is rebranding itself as "Legendary Companies," an identity meant to provide the Chattanooga-based group with greater opportunities for growth and diversification.

The rebranding will help position the group and its private-equity partner, Irving Place Capital, to take advantage of growth opportunities, particularly in the fast-growing performance vehicle and late-model aftermarket sectors, the company said.

The use of the word "Legendary" as a corporate identity positions the group to "bring our direct-to-consumer expertise and global distribution model to enhance the efforts of the performance brands we personally use and admire," President and CEO Wade Kawasaki said.

"We're … excited for this chance to expand Legendary Companies into diverse markets while remaining true to our core consumers."

The holding company comprises a number of businesses focused on the collector car and motorcycle market, including Coker Tire, Wheel Vintiques, Universal Vintage Tire, Phoenix Race Tires, Specialty Wheel and Roadster Wire Wheel.

The rebranding follows a period of expansion for the group, including Coker Tire's acquisition of German-based classic and vintage car tire distributor, Muenchner Oldtimer Reifen GmbH. It also involved Wheel Vintiques' revamp of its product line to include modern wheel fitments and high-performance alloy wheels, following the purchase in January of PS Engineering and Vintage Wheel Works, producers of cast aluminum wheels for collector vehicles.

A group of Coker Group executives, led by Kawasaki and with backing from New York-based Irving Place Capital, acquired the company in late 2018 from Corky Coker, son of company founder Harold Coker.

Phil Carpenter, Irving Place Capital co-managing partner, said Legendary Companies will continue to expand by acquisition while respecting the "importance of maintaining the legacy and heritage of the amazing businesses that populate the aftermarket."

Kawasaki will continue as president and CEO of the renamed company alongside marketing director Marla Moore, Carpenter said.