Titan International acquires Carlstar Group

Titan International, Inc. (TWI) has acquired Carlstar Group LLC for approximately $296 million in an all-cash and stock transaction that closed on February 29, 2024.

The purchase price represents a multiple of approximately 4x Carlstar’s full-year 2023 pre-tax earnings (adjusted EBITDA) of $73 million. Carlstar’s 2023 revenue was approximately $615 million.