Corvette Central has been acquired by Legendary Companies. The Michigan-based Corvette restoration parts manufacturer and supplier expands Legendary Companies’ position in the Corvette market and is consistent with the company’s strategy of growing its portfolio of authentic components to comprehensively serve classic vehicle enthusiasts. Together with Coker Tire and Paragon Corvette, the acquisition of Corvette Central represents the third family-owned business to be added to Legendary Companies’ portfolio of brands since partnering with Irving Place Capital in 2018. Founded in 1975, Corvette Central is a leading provider of parts to upgrade, repair or restore all generations of the Chevrolet Corvette. The company, which has been owned by Jerry Kohn and his family since its inception, has a reputation for providing a comprehensive portfolio of quality parts with the highest level of customer service.
Legendary Companies is the leading manufacturer and supplier of collector car tires, wheels and restoration hard parts that includes the Coker Tire, Wheel Vintiques, Universal Vintage Tire, Phoenix Race Tires, Specialty Wheel Roadster Wire Wheel, Vintage Wheel Works, PS Engineering and Paragon Corvette brands, as well as German tire distributor MOR (Münchner Oldtimer Reifen) GmbH. The company is headquartered in Chattanooga, Tennessee and maintains locations in California, Michigan and Germany.
“We are excited to add Corvette Central to our growing portfolio of restoration parts for collectible vehicles,“ said Legendary Companies President and CEO Mike Kealey. “The Kohn family has built a business with an amazing culture and philosophy centered on providing classic vehicle owners with the broadest selection of high-quality parts. We appreciate the family’s trust in us to maintain the company’s culture while continuing to grow our collective business both organically and through additional acquisitions.”
“We are thrilled to have found a long-term home for Corvette Central with the like-minded leadership group at Legendary Companies,” said Jerry Kohn, President of Corvette Central. “Joining forces with Legendary Companies will enhance our collective ability to best serve the enthusiast consumer with an unmatched offering of authentic restoration parts, wheels and tires.”
Since its founding in 1997, Irving Place Capital has invested in over 60 portfolio companies. The firm focuses on making control or entrepreneur-driven investments where it can apply its substantial operating and strategic resources and expertise to enhance value. Irving Place Capital has successfully executed a broad range of transactions, including buyouts, recapitalizations, build-ups, corporate divestitures, take-privates and distressed-to-control situations.
Cascade Partners (BlueWater Partners) acted as the exclusive financial advisor, and Miller Johnson acted as the legal counsel to Corvette Central for this transaction.
Update: BlueWater Partners has joined Cascade Partners. Read more here.