FRANKLIN, TN — The Carlstar Group LLC, a producer of specialty tires, wheels, and industrial belts, announced Wednesday that it has acquired Marathon Industries, one of North America’s largest providers of solid polyurethane tires, flat-free Universal Fit tires, pneumatic tires, and tire sealant.
The Carlstar Group currently manufactures and sells Carlisle tire, wheel and power transmission products for agriculture, construction, industrial, outdoor power equipment, powersports, towables and trailer applications. Marathon’s lawn and garden tires and accessories complement these products, while also supporting construction, industrial and material handling markets.
“Combining Marathon with our business will expand our leadership position in the specialty tire market and strengthen the breath of our product portfolio,” said John Salvatore, CEO of The Carlstar Group. “The integration of these extraordinary companies will allow us to leverage our collective know-how and provide our customers with enhanced service that they have come to expect. Not only are the products and markets a strategic fit, but the addition of the Marathon business will also enhance the strength of the overall company by sharing their employees’ entrepreneurial spirit, their focus on quality, and their dedication to the customer.”
Jon Foster, who was President of Marathon Industries, will remain President of the new, wholly-owned subsidiary reporting to John Salvatore. “Marathon is excited to become a part of an industry leader,” said Jon Foster. “The Carlstar Group and our team uphold the same customer, quality and progressive values, and we look forward to building upon our foundation together in order to best serve the specialty tire market.”
As a result of the acquisition, Marathon, based in Kent, Wash., will operate under the name of Marastar LLC. The Carlstar Group is headquartered in Franklin, TN. and is a stand-alone company owned by American Industrial Partners (AIP), an operationally-oriented private equity firm.