David Sorbaro Net Worth: The Astonishing Rise of a Tire Tycoon

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david sorbaro net worth

David Sorbaro’s rise to the prominence as one of the world’s richest individuals is a sure result of this success. When you know the history of Mavis Tires and how they work, you may sketch how it has been a hell of a ride for him to amass this large amount of moolah!

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Source – https://www.tirebusiness.com

David Sorbaro Net Worth

Business Insiders and Forbes have estimated the David Sorbaro net worth stats and it’s widely reported that his worth is more than $10 million. So, how was his journey, let’s find out in the bottom section!

YearNet Worth
2023$19 Million
2022$18.5 Million
2021$18 Million
2020$17.5 Million
2019$17 Million

David Sorbaro: Co-CEO, Mavis Discount Tire Inc

Mavis is a well-known independent automotive aftermarket service provider and tire dealer with about 1,200 locations throughout the Northeast, Midwest, and South. It was founded in 1972 by the Sorbaro family, but its origins date back to 1949. Mavis operates under the Town Fair Tire, Express Oil Change, Mavis Discount Tire, and Brakes Plus brands. The company has expanded its network of outlets by over 1,000 service centers since 2015.

David Sorbaro: Socials

David Sorbaro: Partnership

Together with Boston-based PE firm BayPine, which specializes in technology and digital transformation, TSG made an investment in the company. Davil Sorbaro and Stephen Sorbaro, the company’s founders, have a common goal, according to David, to work together to further improve the company’s digital ecosystem and customer experience while increasing the company’s pursuit of new unit growth and profitable merger and acquisition prospects.

David Sorbaro: Strategic Focus

TSG is collaborating closely with the management team, drawing on their extensive consumer knowledge and multi-unit retail experience. In order to support the company’s ongoing growth, BayPine is working to improve its digital ecosystem, consumer marketing initiatives, pursue accretive acquisitions, develop new greenfield sites, and bolster its workforce and infrastructure.

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Source – New York Stock Exchange Youtube Channel

Bottom Lines

Product innovation is the foundation of any brand, and thanks to the David brands collaboration, these businesses have created successful private labels, grown hero franchises, pioneered new goods, and entered new markets. That’s how his millions-dollar value came to be!

“We are excited to partner with BayPine and TSG, who bring significant financial, digital, and operational capabilities to our business. Importantly, our tradition of Value Oriented Service remains unwavering as we scale the Mavis platform. We will continue to work hard every day to earn the trust of our valued customers and enhance our product and service offerings to meet their evolving needs.”

— David and Stephen Sorbaro, Co-Chief Executive Officers

FAQs

Who owns Mavis tires and brakes now?

Golden Gate retained a minority equity stake in the business until BayPine and TSG Consumer Partners acquired the remainder of the company’s shares in March 2021. Neuberger Berman’s NB Alternatives division was responsible for funding Mavis as reported on 6th June, 2023.

Who bought NTB?

Leading North American tire distributor TBC Corporation has decided to sell Mavis Tire Express Services Corp. It’s a company-owned retail business.

Who is CEO of Mavis tires?

Mavis Tires’ CEO, David Sorbaro, is profiled and biographied on Bloomberg Markets for Mavis Discount Tire Inc.

What is the history of Mavis tire?

Mavis is one of the top independent tire dealers and automotive aftermarket service providers, having been established in 1972 by the Sorbaro family, who trace their origins back to 1949.

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