FullSpeed Automotive Continues to Expand Footprint with Acquisition of American LubeFast
– CenterOak Partners LLC (“CenterOak”), a Dallas-based private equity firm, today announced that its portfolio company FullSpeed Automotive (“FullSpeed” or the “Company”) has acquired American LubeFast (“ALF”), a provider of quick lube services with 50 total locations in Georgia, Florida, Mississippi and Alabama. FullSpeed Automotive is one of the nation’s largest franchisors and operators of automotive service centers primarily under the Grease Monkey and SpeeDee brands. The Company’s service offerings include oil changes, tire sales and rotations, brake services, car washes and other ancillary services.
This transaction marks FullSpeed’s 14th acquisition since CenterOak completed a majority investment in November 2017 and expands FullSpeed’s footprint to over 560 domestic and international locations.
“We are excited to add American LubeFast to our retail operations,” said Kevin Kormondy, CEO of FullSpeed. “The acquisition is an important milestone in our continued growth trajectory as we look to expand our geographic footprint in the Southeast. We are very impressed with the ALF operations and their relentless focus on delivering an exceptional customer experience. We fully intend to maintain this commitment to the customer experience going forward as we convert ALF to the Grease Monkey brand.”
“We are proud of this partnership with FullSpeed and of the business we worked hard to build,” said Tim Embry, owner of American LubeFast. “We are impressed with the FullSpeed team and know that our customers will continue to be served well under their ownership.”
“FullSpeed has been actively expanding over the last 26 months to better serve customers in key regions,” said Randall Fojtasek, Managing Partner of CenterOak. “American Lube Fast’s location density in a strategic area combined with their focus on delivering exceptional customer service made this an ideal fit for the FullSpeed platform.”
About FullSpeed Automotive
FullSpeed Automotive is a leading automotive aftermarket services platform offering oil changes, tire sales and rotations, brake services, car washes and other ancillary services through multiple brand formats that target several highly attractive segments of the service market. The Company’s strategic geographic footprint of over 560 franchised and company owned locations provide density in high growth markets. FullSpeed supports two core brand platforms under the Grease Monkey® and SpeeDee® brands. FullSpeed Automotive is headquartered in Greenwood Village, Colorado. For more information, please visit www.fullspeedautomotive.com.
About CenterOak Partners LLC
CenterOak Partners LLC is a private equity firm with a focus on making control-oriented investments in middle market companies organized or operating in the United States. The Firm specializes in three key industry sectors: Industrial Growth, Consumer, and Business Services. Based in Dallas, Texas, the investment and portfolio management team has a strong historical track record creating significant value through operational improvement. CenterOak’s senior leaders and their predecessor funds have managed over $1.8 billion of equity capital commitments and have completed over 100 acquisitions, representing over $4.6 billion in transaction value. For additional information, please visit www.centeroakpartners.com.