Palladium Equity Partners LLC sold Raben Tire Co. LLC to Goodyear Tire & Rubber Co.

Financial details of the transaction were not disclosed.

Founded in 1952, Raben is an Evansville, Ind.-based company that operates more than 30 commercial and consumer tire and service locations and retread production plants. Palladium invested in the tire company in 2014 in partnership with the Raben family.

Palladium is a middle-market private equity firm that seeks to acquire and grow companies in the consumer, services, industrials and healthcare sectors.

BB&T Capital Markets, a division of BB&T Securities LLC, was Raben's exclusive financial adviser. Greenberg Traurig LLP acted as Raben's legal counsel.