GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)–Nov 8, 2021–
FullSpeed Automotive, one of many nation’s largest franchisors and operators of automotive aftermarket restore amenities, introduced that it has accomplished the acquisition of six fast lube and automotive service facilities within the Corpus Christi, TX market. The six facilities presently function as Minit Man Oil Change (“Minit Man”), and can be rebranded as Grease Monkey®.
“We’re thrilled to carry the Grease Monkey model to the Corpus Christi market with six new facilities and proceed our robust development in Texas,” stated Kevin Kormondy, Chief Govt Officer of FullSpeed Automotive. “That is the second main acquisition made by FullSpeed Automotive within the state of Texas this 12 months, following an acquisition of twenty-five new facilities within the Dallas-Fort Value market in July. We now have additionally opened 4 franchised models in Texas this 12 months, together with a brand new Grease Monkey middle in Texas Metropolis, TX final week.”
The Minit Man places have been beforehand owned by HLS Ventures. Jason Smith, Vice President, Operations at HLS Ventures, was happy with the transition to FullSpeed Automotive.
“FullSpeed Automotive has been an amazing companion, partaking with our group to make sure a easy and seamless transition for each workers and prospects,” Smith stated. “The Corpus Christi market can be well-served by their expertise and fervour for customer support.”
Following its acquisition by MidOcean Companions in November 2020, FullSpeed Automotive has accomplished twenty-three acquisition transactions which have added sixty- seven new facilities, and now has 697 franchised and company-owned places. Forty- six new franchise licenses have already been bought this 12 months, and with future development from each new franchise places in addition to continued acquisitions the corporate plans to exceed 1,000 facilities within the close to future.
“We’re excited to be quickly closing in on having 700+ facilities within the FullSpeed household,” Kormondy added. “And with our technique to develop models by way of each expanded franchise operations in addition to strategic acquisitions, we glance to develop our manufacturers by 200-300 models in a brief period of time.”
About FullSpeed Automotive®
FullSpeed Automotive® is a number one automotive aftermarket companies platform providing oil adjustments, tire gross sales and rotations, brake companies, automobile washes, and different ancillary companies by way of a number of model codecs that focus on a number of fascinating segments of the service market. The corporate’s strategic geographic footprint of 697 franchised and company-owned places present density in excessive development markets. The corporate’s flagship manufacturers embrace Grease Monkey® and SpeeDee Oil Change & Auto Service®.
FullSpeed is headquartered in Greenwood Village, Colorado.
About MidOcean Companions
MidOcean Companions is a premier New York-based different asset supervisor specializing in middle-market non-public fairness and different credit score investments. Since its inception in 2003, MidOcean Personal Fairness has focused investments in high-quality middle-market corporations within the client and enterprise companies sectors. MidOcean Credit score was launched in 2009 and presently manages a collection of different credit score methods, collateralized mortgage obligations (CLOs), and customised individually managed accounts.
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CONTACT: Tim Hartmann, Chief Advertising and marketing Officer
(303) 308-1660
KEYWORD: TEXAS COLORADO UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: AFTERMARKET RETAIL AUTOMOTIVE GENERAL AUTOMOTIVE PERFORMANCE & SPECIAL INTEREST SPECIALTY
SOURCE: FullSpeed Automotive
Copyright Enterprise Wire 2021.
PUB: 11/08/2021 10:38 AM/DISC: 11/08/2021 10:38 AM
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