American Tire Distributors Inc. (ATD) says it has completed the sale of "substantially all of its assets" and for the first time the company has outlined the company's new leadership, which includes some familiar industry names.
Ira Silver, the former president and CEO of Max Finkelstein Inc. before it was acquired by U.S. AutoForce in 2022, will serve as president and CEO of the new company — which will retain the ATD name.
Silver's appointment is effective immediately, ATD said in a news release. The company says he will bring "a fresh vision and strategic direction."
In addition, Sean Franciscus will join the company as executive vice president and chief operating officer. Franciscus is the former chief operating officer at Max Finkelstein. He is also the vice president of Asphalt Intermediate HoldCo LLC, according to a filing with the North Carolina Department of the Secretary of State.
Asphalt Buyer LLC was the entity originally identified as the next owner of ATD according to filings in January. The latest filing in North Carolina — the headquarters of ATD — refers to a new limited liability company entitled "Asphalt Buyer II LLC."
Keith Calcagno, a longtime ATD executive, will serve as executive vice president and chief sales officer of ATD.
Silver said, "With a strong financial position, experienced leadership team, and committed new owners, American Tire Distributors is ready to write its success story. We are incredibly grateful for the support we've received and excited to focus on delivering for our manufacturer partners and bringing high-quality products and unparalleled service to our customers."
Franciscus added, "The loyalty of our associates, customers, and core vendors is a testament to the New Company's solid foundation. Now, we turn our attention to building — honoring our commitment to excellence, leveraging our strengths, and claiming our place as the industry leader in wholesale tire distribution."
In the statement, ATD says its focus will be on its "core tire distribution business" and that it is "committed to its national distribution network to drive efficiency and deliver exceptional value to its manufacturer partners and customers."
The company notes it is "backed by a strong financial foundation" and that it "plans to invest significantly in rebuilding inventory and optimizing its distribution footprint, ensuring a seamless and improved experience across its network."
In its initial statement, ATD didn't spell out its new ownership structure, which has been anticipated throughout the bankruptcy proceedings that began in October 2024. Instead, the company referred to its new ownership of "well-capitalized investors."
