Davis Polk is advising affiliates of Warburg Pincus and Alliance Tire Group in connection with the sale of Alliance Tire Group to affiliates of Kohlberg Kravis Roberts & Co., a global private equity firm. Certain existing shareholders, including the founding Mahansaria family, will continue to maintain an ownership stake in Alliance Tire Group. The transaction is subject to certain closing conditions. Financial terms of the transaction have not been disclosed.
Headquartered in Mumbai, Alliance Tire Group is a global developer, manufacturer and supplier of a wide range of off-highway tires. Founded in Israel in 1950, it employs more than 2,500 people worldwide and specializes in the development, manufacturing and marketing of tires for agriculture, forestry, construction, industrial, earth moving and OEM applications. Alliance Tire’s products are available in more than 120 countries and it sells under the brand names Alliance, Galaxy and Primex.
Headquartered in New York, Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has more than $30 billion in assets under management and has raised 13 private equity funds, which have invested more than $40 billion in over 650 companies in more than 30 countries.
The Davis Polk corporate team includes partners Kirtee Kapoor and Simon Witty and associate Winnie Ling. Partner John D. Paton and counsel Alon Gurfinkel are providing tax advice. Counsel Stephen M. Pepper and associate Rebecca Tracy Rotem are providing antitrust and competition advice. John T. Wright and associate Jessica Lutrin are providing executive compensation advice. Counsel Hayden S. Baker is providing environmental advice. Members of the Davis Polk team are based in the Hong Kong, New York, London and Washington DC offices.
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