American Securities has finalized its purchase of Pittsburgh-based tire recycler Liberty Tire Services, LLC.
“We look forward to the next stage of Liberty Tire’s development and to working with American Securities,” says Liberty CEO Jeff Kendall. “We expect to continue to grow and improve all aspects of our operations and are pleased to have the support of a partner with the resources of American Securities.”
Liberty collects and recycles nearly 25 percent of America’s annual scrap tire production through a network of 14 facilities located in Florida, Georgia, Illinois, Indiana, North Carolina, South Carolina, Ohio, Pennsylvania and Texas. It processes the scrap tires into a wide range of products:
- Finely ground crumb rubber produced directly or indirectly for use in artificial turf installations, molded rubber goods such as floor mats and paving tiles, new passenger car tires, truck tire retread compounds, hoses, brake linings, coatings, sealants and rubberized asphalt;
- Wire-free rubber nuggets used in playground safety surfacing and decorative landscaping mulch;
- Tire-derived fuel that is a high-BTU, clean-burning alternative to coal and natural gas for utilities and industry;
- Light-weight aggregate for use in road construction and drain-field applications.
“Liberty Tire has become the country’s largest tire recycler by providing its customers with outstanding service and quality products,” says Matt LeBaron, a managing director at American Securities.
“We are delighted to partner with the management team and look forward to supporting the company’s continued growth over the long term,” he adds noting how the newly acquired operation “perfectly fits our investment philosophy of investing in leading companies in stable-demand industries.”
The purchase price was not disclosed.
For more information, visit www.libertytire.com and www.american-securities.com
