Jul 14, 2015
The Carlstar Group LLC™, a premier producer of specialty tires, wheels, and industrial belts, announced today that it has acquired Marathon Industries (“Marathon”), one of North America’s largest providers of solid polyurethane tires, flat-free Universal Fit® tires, pneumatic tires and tire sealant. The Carlstar Group is proud to combine the products of Marathon with its current portfolio of industry-leading products, including Carlisle®, ITP®, Ultimax®, Black Rock®, Unique® and Cragar® brands.
The Carlstar Group is continuing its growth trajectory through an intense focus on customer satisfaction and an expansion of its range of technical capabilities to introduce new products. 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, Tenn. and is a stand-alone company owned by American Industrial Partners (AIP), an operationally-oriented private equity firm.
About Marastar LLC
Marastar (previously Marathon Industries) is one of the largest providers of solid polyurethane tires for original equipment and aftermarket retailers in the United States. With a primary focus on the hardware, contractor, and lawn and garden industries, Marastar offers flat-free polyurethane tires, pneumatic and semi-pneumatic tires and tire sealant, as well as a selection of contractor and residential type wheelbarrows and carts. Marathon Industries was established in the 1990’s with the creation of flat-free polyurethane tires. Today, Marastar carries an extensive line of tire sizes for various applications in flat-free polyurethane, pneumatic and semi-pneumatic styles to cover a wide range of customers’ needs. For more information about Marastar, visit its website at www.marathonind.com.
About The Carlstar Group
The Carlstar Group LLC (formerly CTP Transportation Products) is a leading producer of specialty tires, automotive wheels and industrial belts for agriculture, construction, industrial, outdoor power equipment, powersports, towables and trailers. The Carlstar Group offers a comprehensive line of performance products for original equipment and aftermarket customers with a strong family of brands including Carlisle® belts, tires, and wheels, Ultimax® powersports belts, ITP® tires and wheels, as well as Cragar®, Black Rock® and Unique® automotive wheels. Products are made in ISO-registered manufacturing facilities, supported by innovative product development and a team focused on customer satisfaction. The Carlstar Group employs over 4300 associates in 22 facilities located in five countries. Since 1917, a culture of converting great ideas into advanced products has created a legacy of excellence in product innovation, quality and customer service. Further information is available at www.carlstargroup.com.