The auction for Mycar, Australia’s prominent automotive services and repair chain, has entered its final phase with two well-credentialed private equity sponsors competing for control.
Sydney-based buyout firm Allegro Funds and Point Capital are the remaining bidders in what is being described as a record-breaking process for the business.
Mycar, formerly known as Kmart Tyre & Auto, generates annual revenue exceeding A$558 million and produces approximately A$60 million in EBITDA.
Mycar, formerly known as Kmart Tyre & Auto, generates annual revenue exceeding A$558 million and produces approximately A$60 million in EBITDA.
The competitive tension between the two firms suggests strong investor appetite for the asset, reflecting broader confidence in the automotive aftermarket sector despite macroeconomic headwinds.
The deal highlights the continued interest of private equity in fragmented service industries with recurring revenue models.
Mycar’s scale and market position make it an attractive target for consolidation strategies, particularly as digital platforms and traditional service providers increasingly intersect in the automotive space.