S8 Capital Expands Tire Portfolio with Kordiant Acquisition

Armen Sarkisyan’s S8 Capital group has reached an agreement to acquire full ownership of Russian JSC Kordiant, securing three manufacturing sites in Omsk and Yaroslavl as part of the deal. The development was reported by Kommersant referencing the holding’s public statement. The consolidation extends S8 Capital’s footprint in the tire sector by adding the Cordiant JSC enterprise to its portfolio, including two production plants in Yaroslavl and Omsk. The operation also encompasses the Intyre research and development center and the equipment repair facility. The total transaction value was not disclosed. Analysts estimate Cordiant JSC’s EBITDA at roughly 5.5 to 6 billion rubles based on previously published company data. When applying standard market multiples, the implied company valuation could range from about 16.5 to 24 billion rubles. Industry observers note that the Russian tire market presents meaningful growth potential driven by access to synthetic rubber and available manufacturing capacity. They also expect higher demand as automobile production in the Commonwealth of Independent States expands over time, which could translate into stronger supply chains and broader distribution networks. In late May the organization reported that Michelin, a tire producer operating near Davydov, just outside Moscow, sold its Russian operations. The purchaser was Power International Tires LLC, which will assume ownership of the tire factory and Camso CIS LLC, a firm focused on supplying tires and tracks for special equipment. This sequence of transactions underscores a broader regional trend toward consolidation and strategic capacity expansion within the tire and automotive components sector, aligning with expectations of rising regional demand and competitive dynamics across the market. The moves also reflect ongoing shifts in asset ownership, with strategic buyers seeking to integrate production capabilities, distribution channels, and research assets to strengthen market position in both Russia and adjacent markets. Taken together, these developments suggest a transition toward greater scale and operational efficiency for the players involved, potentially influencing pricing, product availability, and investment activity in the sector as markets stabilize and growth resumes. Market watchers will be watching for any forthcoming disclosures regarding financial terms, integration timelines, and impact on local employment and regional supply chains, as these factors will shape the post-merger landscape for tire manufacturing in the region.