Liberty Tire Recycling, a Pittsburgh-based provider of tire recycling services, has acquired Lakin Tire, with support from its majority equity sponsor The Carlyle Group. The merger unites two complementary businesses, which share a focus on safety, service, quality and innovation, in order to leverage their respective strengths, share best practices and expand their combined geographic reach.
Lakin — headquartered in Santa Fe Springs, California, with operations focused throughout the western U.S. and the Northeast — is one of the most established and technologically advanced tire removal and recycling companies in the U.S.
Combined, the two companies collect over 180 million tires per year and recycle approximately 2.6 billion pounds of rubber into innovative, sustainable products. Liberty Tire CEO Thomas Womble will lead the combined business, while key leaders of Lakin, including Bob Lakin and Sean Lakin, will take on expanded roles within Liberty. Bob Lakin, who will become an executive director, will maintain an equity ownership stake in Liberty.
Equity for the investment came from Carlyle Strategic Partners IV and a key group of co-investors in Liberty.