FullSpeed Automotive, one of the USA’s largest franchisors and operators of automotive aftermarket repair facilities, completed the acquisition of three quick lube and automotive service centres last week, bringing its total number of acquisitions since the start of the Q3 to fourteen.
The fourteen centres were acquired in nine separate transactions across eight states, and all will be rebranded as one of FullSpeed Automotive’s iconic brands, Grease Monkey or SpeeDee Oil Change & Auto Service®. Following its acquisition by MidOcean Partners in November 2020, FullSpeed Automotive has completed twenty-one acquisition transactions that have added sixty new centres, and now has 690 franchised and company-owned locations.
Last week’s acquisitions included Super Lube Service in Boliver, MO and two franchised Grease Monkey centres in Savage, MN and Eden Prairie, MN. In addition to Missouri and Minnesota, previous transactions in the third quarter also included acquisitions in Arizona, Colorado, Connecticut, Louisiana, New Hampshire, and Texas.
“We are excited about the continued expansion of the FullSpeed portfolio across the entire country,” says Kevin Kormondy, Chief Executive Officer of FullSpeed Automotive. “Our acquisitions are not limited by geography or number of units. When we find the right acquisition partner we will move quickly, and we encourage independent auto centre owners considering a sale of their business to contact us.”
Kathy Wagoner, former owner of Super Lube Service, agreed that FullSpeed Automotive is the right company to approach for a sale.
“The FullSpeed Automotive team has great experience in acquisitions, so they were incredibly knowledgeable and made the process very easy,” Wagoner says. “Everything moved quickly, and they were upfront and honest throughout.”
