October 2025 · Percheron Capital (Blue Owl, ICONIQ, Warburg Pincus) acquires Big Brand Tire & Service

A $1.625 billion recap arms Big Brand for the next wave of deals

By Clay Whitaker, Auto Shop Acquisitions

Fast facts

Buyer:: Percheron Capital (Blue Owl, ICONIQ, Warburg Pincus)
Target:: Big Brand Tire & Service
Date:: October 2025
Locations:: 350+ (platform)
Source:: Modern Tire Dealer

Percheron Capital, co-led by Blue Owl Capital, ICONIQ, and Warburg Pincus, closed an oversubscribed $1.625 billion recapitalization of Big Brand Tire & Service, its platform since 2021.

The capital is earmarked to accelerate both acquisitions and organic store growth toward a stated ~1,000-store goal. Since 2021, Big Brand reportedly grew revenue more than 10x and profit more than 15x.

Why Big Brand Tire & Service was a target

→This is the 'buy-and-build' engine in the open: a sponsor doubling down on a proven consolidation platform with fresh dry powder.
→A $1.6B war chest exists to be spent. It means years of continued acquisition activity aimed squarely at independents.
→The recap validates the whole thesis: platforms that assemble shops are worth far more than the sum of the shops they buy.

What it means for owners

When this much capital is raised specifically to buy shops, the demand for good independents isn't slowing. It's compounding. That's leverage for prepared sellers and noise for everyone else.

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Reported facts via Modern Tire Dealer. Commentary is our own.