Dealer Tire to repay part of revolver, Dent Wizard debt via new notes

By Sarah Lizee

Olympia, Wash., Jan. 24 – Dealer Tire, LLC plans to finance the repayment of substantially all of Dent Wizard International Corp.’s existing debt and a portion of its own revolver using proceeds from new notes, according to a press release.

Dealer Tire announced on Friday plans to sell $350 million of senior notes due 2028.

Proceeds from the notes together with cash on hand, cash equity and borrowings under new credit facilities will be used to finance Dealer Tire’s acquisition of DWH Holdings, Inc., the parent company of Dent Wizard.

Any remaining proceeds from the notes will be used for working capital and other general corporate purposes.

Dealer Tire is a Cleveland-based distributor of replacement tires and parts for automotive OEMs and their dealers. Dent Wizard is a Bridgeton, Mo.-based provider of automotive reconditioning services and vehicle protection products.

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