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CenterOak Partners acquires FullSpeed Automotive

Dallas-based private equity firm CenterOak Partners 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 centres.

President and Chief Executive Officer John B Adams and the existing management team will continue to lead the Company following CenterOak’s investment.
 
“We are pleased to partner with a strong and experienced management team that has demonstrated a proven ability to generate organic and acquisitive growth,” says 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.”
 
FullSpeed Automotive was founded in 1978 and has over 500 automotive centres across the US 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 excited to collaborate with the CenterOak team to drive continued growth,” says John B Adams, President and Chief Executive Officer of FullSpeed Automotive. “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 utilising CenterOak’s expertise to expand our corporate and franchise store base.”

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