Golden Gate Capital Acquires Express Oil Change & Tire Engineers
Golden Gate Capital recently announced it has acquired Express Oil Change & Tire Engineers from Carousel Capital. Express Oil will remain headquartered in Birmingham, Alabama, and will continue to be led by its current management team including CEO Ricky Brooks. Express Oil’s management and Carousel Capital will remain shareholders of the company.
Express Oil has approximately 300 company-owned and franchised locations across 15 states. Express Oil pioneered a unique operating model offering quick oil changes, automotive maintenance and repair, and tire sales and services, all under one roof.
“We are delighted to partner with Golden Gate Capital, which is fully supportive of our long-term strategic plan and appreciates our deep-rooted commitment to exceptional customer service and providing the highest quality automotive products and services,” said Ricky Brooks, CEO of Express Oil. “I am extremely proud of the strong foundation we established throughout our decade-long partnership with Carousel Capital and believe that with Golden Gate Capital’s support we are well-positioned to maintain our momentum as we pursue our growth strategy.”
“After evaluating investment opportunities in the automotive aftermarket space for several years, we are excited to partner with Express Oil, a leading automotive service platform with an excellent management team, strong service culture and proven operating model,” said Josh Olshansky, a managing director at Golden Gate Captial. “We look forward to supporting Ricky and Express Oil’s best-inclass management team as the company enters its next chapter of growth.”