GPX International Tire.

GPX International Tire

  • November 2005

  • June 2009

  • Specialty Manufacturing

  • Malden, Massachusetts

GPX International Tire

GPX International Tire was one of the largest independent providers of specialty; “off the road” tires for agricultural, construction, material handling and transportation customers.  GPX was formed by the merger of Boston-based Galaxy Tire & Wheel, Inc. with Toronto-based Dynamic Tire Corp. 

Performance

Sterling in partnership with management executed: (i) the acquisition of a manufacturing facility in China to produce off-road tires, (ii) the acquisition of Maine Industrial Tires, a manufacturer of solid industrial tires, and (iii) the disposition of a Serbian plant which produced lower technology tires.  The business was also reorganized into seven distinct units creating greater operating focus.  GPX was materially adversely affected by the U.S. Department of Commerce’s imposition of substantial anti-dumping and countervailing duties on the company’s Chinese suppliers.  Sterling provided oversight on the work-out which saved 95% of the jobs and maximized value for stakeholders.  A year later the U.S. Federal Court of International Trade ruled the duties imposed on GPX as “unreasonable, arbitrary, capricious and unlawful.”

Related News

12/21/2006
GPX International Tire Corporation Awarded Manufacturing – Industrial Deal of the Year
08/09/2006
GPX Expands Tire Manufacturing Capacity with the Acquisition of Starbright Tire Factory in China
08/08/2006
GPX USA South West Branch Expands To New Warehouse
12/12/2005
Big Trends in Big Tires Attract Sterling -- Buyouts
11/29/2005
Sterling Investment Partners purchases an equity interest in GPX International Tire Corporation
11/29/2005
Sterling heads off-road -- The Deal