Titan International has finalized the acquisition of Carlstar Group LLC for approximately $296 million, marking a major strategic move to diversify and strengthen its global business. The transaction officially closed on February 29, 2024, and reflects a valuation of roughly 4x Carlstar’s adjusted 2023 EBITDA of $73 million.
Carlstar is a respected manufacturer and distributor of wheels and tires across multiple sectors, including small to mid-sized agricultural and construction machinery, motorsports, trailers, and outdoor power equipment.
“This acquisition not only strengthens Titan’s position in the industry,” said Titan CEO Paul Reitz, “but also brings valuable diversification to our product offering, creating new
opportunities for both existing and future customers. Carlstar is a well-managed company, and we’re excited to build on their success.”
Maurice Taylor Jr., Chairman of the Board at Titan International, also praised the move: “Carlstar represents an excellent strategic and financial fit. Their best-in-class portfolio aligns with our long-term goals, and I want to welcome Kim Marvin of AIP to our Board. Her team has done a remarkable job establishing Carlstar as a market leader.”
Carlstar operates four manufacturing plants—three in the United States and one in China—and maintains twelve distribution centers across North America and Europe. The acquisition is set to enhance Titan’s global footprint while offering expanded product options to a broader customer base.