Lion Equity Partners to Buy Myers Tire Supply North America for $30 Million
Myers Industries will sell the tire-supply unit to complete a Focused Transformation toward engineered resin and composite products.
Lion Equity Partners agreed to buy Myers Tire Supply’s North America business from Myers Industries Inc. (MYE) for $30 million in an asset purchase.
The Akron, Ohio, manufacturer said the sale advances its Focused Transformation into a maker of engineered resin and composite products serving critical infrastructure, industrial, consumer, food and beverage, and vehicle end markets.
President and CEO Aaron Schapper called the closing “a defining step in our ongoing transformation.” He said sharpening focus on core specialty engineered products leaves Myers “better positioned to drive long-term growth and create value for our shareholders.”
Myers had already begun stripping the tire business out of its reporting. In first-quarter 2026 results, Myers Tire Supply was reported as discontinued operations, and Myers reported as one operating segment. Operating income margin expanded 450 basis points, and adjusted EBITDA margin expanded 420 basis points. Free cash flow was $23.9 million, up 28.5% from the fourth quarter.
The tire unit’s exit had been in motion since mid-2025. In July 2025, the board approved a strategic review of Myers Tire Supply to “simplify our portfolio, narrow our strategic focus, and enable us to prioritize core businesses that align with our mission of protecting the world from the ground up.” Two rotational molding facilities were also idled to improve asset utilization, and Myers remained on track for $20 million in cost savings by year-end 2025.
Fourth-quarter and full-year 2025 results showed the same program continuing. Myers’ 2025 free cash flow was $67 million, up 23% year over year, and annualized costs fell by $20 million, primarily in SG&A. Schapper said the company was “focusing on our core businesses that protect from the ground up, while progressing with the sale of Myers Tire Supply.”
Second-quarter 2026 results, released before the Lion deal was announced, showed revenue growth of 9.8% as Focused Transformation initiatives lifted commercial results. Earnings from continuing operations were $0.50 a share, and adjusted earnings were $0.53 a share, up 92.3% and 60.6% year over year. Operating income margin was 17.4%, and adjusted EBITDA margin was 21.8%. Free cash flow was $26.5 million.
The $30 million asset purchase is the last disclosed step in that portfolio realignment. The remaining company will concentrate on engineered resin and composite products across infrastructure, industrial, consumer, food and beverage, and vehicle markets.