Dealer Tire LLC is making a significant investment in SimpleTire, a Philadelphia-based online tire retailer that has developed an e-commerce platform and network of independent tire distributors. Terms of the investment were not disclosed.
"While our core business remains focused on supporting the dealer channel and our OEM customers, our investment in SimpleTire is part of our effort to continue bringing innovation and technology to the tire industry," Dealer Tire CEO Scott Mueller said in a statement.
SimpleTire links independent tire distributors across the country into one e-commerce network. All three founders — brothers Andy and Josh Chalofsky, and business partner Kenny Pratt — will continue to lead the company.
Debevoise & Plimpton LLP served as legal counsel to Dealer Tire. Perkins Coie LLP served as legal counsel to SimpleTire.