Wade KawasakiEight months after the founding family of Coker Tire sold their family-owned business, the new owners are rebranding the company as Legendary Companies.
Coker Group, the holding company comprised of Coker Tire, Wheel Vintiques, Universal Vintage Tire, Phoenix Race Tires, Specialty Wheel and Roadster Wire Wheel, announced the new name Thursday "to represent the breadth and scope of its current market segments" while opening the way to add still other automotive businesses to the Chattanooga-based holding company.
"The naming was very intentional; we chose the word 'Legendary' because we see our diverse, vibrant enthusiast customer base as the real legends in our industry," said Wade Kawasaki, the company president and CEO who led the management buyout of the company last November from the heirs of the late Harold Coker
The rebranding comes after Coker Tire's recent acquisition of German-based classic and vintage car tire distributor, MOR, and the expansion of the product line by Wheel Vintiques to include modern wheel fitments and high performance alloy wheels following the purchase of two performance aluminum wheel companies.
"We will continue to expand through the addition of top-tier companies and we respect the importance of maintaining the legacy and heritage of the amazing businesses that populate the aftermarket," said Phil Carpenter, co-managing partner for Irving Place Capital which helped finance the purchase of the Coker Group last year and its subsequent expansion.
The company was started more than 60 years ago as Coker Tire in Athens, Tennessee by the late Harold Coker, who later served as a Hamilton County commissioner and ran unsuccessfully for Congress in Tennessee's 3rd congressional district.