Key Takeaways
- • Myers Industries (NYSE: MYE) completed the sale of its Myers Tire Supply North America business to Denver-based private equity firm Lion Equity Partners for $30 million, subject to customary post-closing adjustments for cash, indebtedness, net working capital, and transaction expenses.
- • The divestiture represents a strategic pivot for Myers Industries toward its core specialty engineered resin and composite products serving critical infrastructure, industrial, consumer, food and beverage, and vehicle end markets, strengthening the company's balance sheet and enabling focused resource allocation.
- • Lion Equity Partners, a Denver-based PE firm specializing in corporate divestitures and acquisition of divisions from larger corporations, acquired the business and recognized its strong brand positioning and customer relationships built over decades.
- • The transaction includes a 36-month non-compete agreement and was completed on August 31, 2026, with terms to be filed as an exhibit to Myers Industries' Form 8-K current report with the SEC.
- • Myers Industries CEO Aaron Schapper characterized the completion as "a defining step in our ongoing transformation," positioning the company to drive long-term growth, while Lion Equity Managing Partner Jim Levitas emphasized the business's trusted brand and exceptional service reputation.
Summary
Myers Industries, Inc. (NYSE: MYE), an Akron, Ohio-based manufacturer of protective products, completed the sale of its Myers Tire Supply North America business to Lion Equity Partners, a Denver-based private equity firm, for $30 million on August 31, 2026. The transaction represents a significant strategic milestone in Myers' ongoing transformation as a public company, enabling the sale to proceed with customary post-closing adjustments for cash, indebtedness, net working capital, and transaction expenses.
The divestiture aligns with Myers Industries' stated strategic priorities to concentrate resources on its core specialty engineered resin and composite products. By divesting the tire supply unit, the company has sharpened its focus on critical infrastructure, industrial, consumer, food and beverage, and vehicle end markets—segments where its engineered products hold competitive positioning. The transaction strengthens Myers' balance sheet and provides financial flexibility to pursue growth initiatives within its core business areas. CEO Aaron Schapper stated that the completion represents "a defining step in our ongoing transformation," emphasizing that the company is now better positioned to drive long-term shareholder value through focused execution.
Lion Equity Partners specializes in acquiring divisions from larger corporations, with significant experience navigating divestiture processes. The firm viewed Myers Tire Supply as a compelling acquisition, recognizing the business's highly trusted brand and decades-long commitment to customer relationships and service excellence. Jim Levitas, Managing Partner at Lion Equity, underscored the business's market position and growth potential under new ownership. Myers Industries acknowledged the historical importance of Myers Tire Supply and expressed confidence in the business's prospects under Lion Equity Partners' ownership and management.
The definitive transaction agreement was filed with the Securities and Exchange Commission as an exhibit to Myers Industries' Form 8-K. The transaction includes a 36-month non-compete provision, restricting Myers Industries from competing in the tire supply space during that period and providing Lion Equity with protective terms as it pursues its own strategic plans for the acquired business.
The divestiture aligns with Myers Industries' stated strategic priorities to concentrate resources on its core specialty engineered resin and composite products. By divesting the tire supply unit, the company has sharpened its focus on critical infrastructure, industrial, consumer, food and beverage, and vehicle end markets—segments where its engineered products hold competitive positioning. The transaction strengthens Myers' balance sheet and provides financial flexibility to pursue growth initiatives within its core business areas. CEO Aaron Schapper stated that the completion represents "a defining step in our ongoing transformation," emphasizing that the company is now better positioned to drive long-term shareholder value through focused execution.
Lion Equity Partners specializes in acquiring divisions from larger corporations, with significant experience navigating divestiture processes. The firm viewed Myers Tire Supply as a compelling acquisition, recognizing the business's highly trusted brand and decades-long commitment to customer relationships and service excellence. Jim Levitas, Managing Partner at Lion Equity, underscored the business's market position and growth potential under new ownership. Myers Industries acknowledged the historical importance of Myers Tire Supply and expressed confidence in the business's prospects under Lion Equity Partners' ownership and management.
The definitive transaction agreement was filed with the Securities and Exchange Commission as an exhibit to Myers Industries' Form 8-K. The transaction includes a 36-month non-compete provision, restricting Myers Industries from competing in the tire supply space during that period and providing Lion Equity with protective terms as it pursues its own strategic plans for the acquired business.
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