Carousel Capital has invested in Quality Automotive Services, a franchisee in the Valvoline Instant Oil Change system.
VIOC is the second-largest quick lube operator in the U.S. and delivers preventive maintenance to its consumers.
Matt McKeown, CEO of QAS, said “We are excited to have accelerated the execution of our strategic plan so quickly after partnering with Carousel. Their extensive experience partnering with market leading multi-location automotive service platforms has been invaluable in helping to take QAS’ growth trajectory to the next level.”
The transaction was funded with equity from Carousel Capital’s sixth fund. Senior debt financing was provided by Antares Capital. K&L Gates LLP served as legal advisor.