Is Pep Boys owned by private equity?

Yes. Pep Boys is currently owned by BayPine / TSG Consumer Partners, which acquired it in 2026. Carl Icahn's firm shut the parts stores, kept the real estate, and handed the garages to Mavis, another PE-backed chain.

What happened to Pep Boys after the acquisition?

Retail stores closed across 24 states as Pep Boys abandoned parts retail to focus on its roughly 1,000 service centers. If you bought parts at Pep Boys to fix your own car, that option is gone — the company would rather sell you the repair.

Pep Boys is owned by BayPine / TSG Consumer Partners, which acquired it in 2026.

Is Pep Boys Private Equity Owned?

PRIVATE EQUITY OWNED

Pep Boys

Includes Pep Boys - Manny, Moe & Jack

Automotive · Philadelphia, PA

PE Firm: BayPine / TSG Consumer Partners →
Acquirer: Mavis Tire Express Services
Year Acquired: 2026

Carl Icahn's firm shut the parts stores, kept the real estate, and handed the garages to Mavis, another PE-backed chain.

What They Did

Icahn Enterprises bought Pep Boys for about $1 billion in 2016, taking the publicly traded chain private and ending public visibility into its finances
By 2021 the company had shut or sold at least 120 of its 500-plus retail stores and leased 109 more storefronts to competitor Advance Auto Parts — keeping only the service garages
Icahn's separate auto-parts distributor, Auto Plus, filed for Chapter 11 in January 2023. Pep Boys was a separate business in the same group and stayed out of the bankruptcy
Icahn sold Pep Boys to Mavis Tire, owned by PE firms BayPine and TSG Consumer Partners, for about $700 million in cash in August 2026 but kept the real estate Pep Boys had already transferred to Icahn. Pep Boys' nearly 800 locations join a Mavis network that already swallowed Midas in 2025

Since the Acquisition

Retail stores closed across 24 states as Pep Boys abandoned parts retail to focus on its roughly 1,000 service centers
If you bought parts at Pep Boys to fix your own car, that option is gone — the company would rather sell you the repair
Many of the old storefronts now operate as Advance Auto Parts, while the Pep Boys name survives only on the garage side

Sources

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Is Pep Boys Owned by Private Equity?

Pep Boys

What They Did

Since the Acquisition

Sources

Also owned by BayPine / TSG Consumer Partners

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