Mavis Tire Express Services Corp., the parent company of Midas and Tuffy auto repair brands, has selected banks for a US initial public offering, according to people familiar with the matter. The auto service provider, which operates hundreds of locations across North America, is with plans to list on public markets. Mavis Tire owns and operates multiple automotive service brands under its corporate umbrella.

The IPO selection comes as the auto repair industry experiences consolidation and private equity interest. Mavis has grown through acquisitions of regional tire and repair chains, building a portfolio that includes well-known names in automotive service. The company's decision to pursue a public listing follows a trend of automotive service businesses seeking capital markets access to fund expansion and pay down debt.

By going public, Mavis Tire aims to capitalize on the fragmented nature of the auto repair market and its established brand portfolio. The move could provide liquidity for existing investors while giving the company resources for further growth through acquisitions. Industry analysts note that public market investors have shown appetite for automotive service companies with strong regional footprints and multiple brand identities.