Trivest Partners Announces Recapitalization of Oil Changers Inc.
Trivest Partners ("Trivest") announces it has recapitalized Oil Changers Inc. (“Oil Changers” or the “Company”), a differentiated fast lube chain with 34 locations in California. Oil Changers utilizes a quick oil change concept based on convenience, quality and service. Each of the Company’s no-appointment-necessary services is provided on a drive-through basis. The Oil Changers transaction represents the 16th platform company investment in Trivest Fund V, a $415 million fund dedicated to investing in founder/family-owned businesses.
The first Oil Changer facility was opened in Northern California in September 1986 and has grown to include facilities in the regions of San Francisco, San Diego and Fresno. [Californians enjoy a deserved reputation for car-consciousness and environmental awareness, and the Company’s convenience and environmental sustainability make it an ideal service provider.] With strong leadership team, all of whom will remain with the Company, Oil Changers has achieved record growth over the prior five years and has identified specific initiatives to further accelerate the Company’s expansion. Trivest’s support will allow Oil Changers to make additional investment in existing facilities and grow into new markets organically and through complementary add-on acquisitions. Importantly, Oil Changers will continue its laser focus on providing outstanding customer service.
“The partnership with Trivest will allow Oil Changers to accelerate our growth plans and strengthen the Company’s leading position in key California markets,” said Eric Frankenberger, “Our team felt Trivest’s culture and deep experience in the quick lube space lined up very well our goals and objectives. We are excited to align ourselves with a partner that shares our enthusiasm for the Company’s future.”
Forest Wester, Partner with Trivest, commented, “We are thrilled to be partnering with Oil Changers. The Company has a long track record of growth and has built an incredible reputation for outstanding customer service. We believe Oil Changers is a great platform from which to expand will support the Company in its active pursuit of growth and regional expansion.
About Trivest Partners Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 250 transactions, totaling almost $6.0 billion in value. For additional information, please visit www.trivest.com.
About Oil Changers Oil Changers has been in business since 1986 and currently has 34 locations and over 250 employees all located in the California market. Over the last thirty-one years Oil Changers has been an active member in both State and National Associations advocating for the quick lube model and its members. Oil Changers has been featured multiple times in National Oil Lube News as well as being the Operator Member of the Year for the Automotive Oil Change Association in 2015. For additional information, please visit www.oilchangerinc.com