CenterOak Partners LLC has acquired FullSpeed Automotive, a U.S. franchiser of automotive service centers.
FullSpeed Automotive is a operator of more than 500 quick lube centers providing tire rotations, brake services, suspension repairs and minor electrical system repairs for commercial vehicles. The Greenwood, Colorado-based company franchises facilities across the U.S. and internationally using the Grease Monkey, SpeeDee, LubePro’s and Money Shine car wash brands. The target also operates 41 Havoline Xpress lube facilities in Georgia and Illinois.
CenterOak is a Dallas-based private equity firm that makes control investments of up to $90 million in equity to back middle-market businesses that specialize in the industrial growth, consumer and business services sectors. The private equity Firm backs U.S. companies that have between $50 million to $250 million in enterprise value. CenterOak launched in 2014, and has since invested in residential window manufacturer Cascade Windows Inc. and colorant supplier Aakash Chemicals.
“We are pleased to partner with a strong and experienced management team that has demonstrated a proven ability to generate organic and acquisitive growth,” states CenterOak managing partner Randall Fojtasek.
Auto care suppliers continue to be attractive M&A targets. Related automotive deals include: Highland Partners’ acquisition of Hi-Tech Industries Inc.; Genuine Parts Co.’s (NYSE: GPC) purchase of Covs Parts Pty Ltd.; United Stationers’ (Nasdaq: USTR) acquisition of Medco, Delphi Automotive's (NYSE: DLPH) purchase of Unwired Technology; and Trim Parts’ purchase of Mr. Mustang Inc.