Mr. Lube + Tires Acquired by Diversified Royalty | Industrials M&A Deal

Diversified Royalty has agreed to acquire Mr. Lube + Tires, a industrial services other business in Canada, for $235 million. Diversified Royalty acquisitions focus on the Mr. Lube + Tires franchisor business, which operates automotive services franchises across Canadian markets and supports recurring royalty streams. The industrials M&A platform acquisition expands Diversified Royalty’s economic exposure to its largest and best performing royalty partner while adding scale in automotive services franchising. The public company acquisition is structured as a platform acquisition with a newly formed wholly owned subsidiary and is expected to close subject to customary conditions and post-closing adjustments, financed with cash, undrawn acquisition facility capacity, senior debt, and rolled equity.