CenterOak Partners Acquires FullSpeed Automotive
CenterOak Partners LLC, a Dallas-based private equity firm, has completed a majority investment in FullSpeed Automotive. Based in Greenwood Village, Colorado, FullSpeed Automotive is one of the nation’s largest independent franchisors of automotive quick lube centers. President and CEO John Adams and the existing management team will continue to lead the company following CenterOak’s investment.
FullSpeed Automotive was founded in 1978 and has more than 500 automotive centers across the U.S. and internationally. The company’s brands include: Grease Monkey, SpeeDee, LubePro’s and Monkey Shine car wash. The company’s Retail Operations division also operates Havoline xpress lube locations. In addition to quick lube oil changes, FullSpeed Automotive provides a variety of other services, such as tire rotations, brake services, suspension repairs and minor electrical-system repairs.
“We are pleased to partner with a strong and experienced management team that has demonstrated a proven ability to generate organic and acquisitive growth,” said Randall Fojtasek, managing partner of CenterOak. “FullSpeed Automotive represents an attractive opportunity to work with one of the leading franchisors in the large, growing and fragmented quick lube category. We are impressed with the company’s emphasis on speed, quality and customer service – the three pillars to a value proposition that resonates so well with its customers.”
“We are excited to collaborate with the CenterOak team to drive continued growth,” said Adams. “The team has an impressive track record of building value in companies, including significant experience in supporting strategic add-on acquisitions. We look forward to utilizing CenterOak’s expertise to expand our corporate and franchise store base.”
This story first appeared on aftermarketnews.com