The Carlyle Group partners with Old Mutual Private Equity to acquire 100% of Tiger Automotive in maiden South Africa deal

Global Alternative Asset Manager The Carlyle Group (NASDAQ: CG) and Old Mutual Private Equity today announced that they have agreed to acquire 100% of South African tyre retailer and wholesaler Tiger Automotive (TiAuto) from Ethos Private Equity and the founders.

Funding for this investment will come from the Carlyle Sub-Saharan Africa Fund and Old Mutual Private Equity Fund IV, and TiAuto founders will also re-invest equity in the company. The transaction is expected to close in early 2015, subject to regulatory approvals.

TiAuto, which operates the iconic “Tiger Wheel & Tyre” brand as well as the new “Tyres & More” retail store format, is a retail and wholesale distributor of primarily automotive tyres from major global manufacturers such as Continental, Yokohama, Michelin, Pirelli, Goodyear, Achilles, GT Radial and Hankook.

Read more: The Carlyle Group and Old Mutual Private Equity to acquire 100% of Tiger Automotive | The Carlyle Group.

Recommended