CLEVELANDPrivate investment firm Argonne Capital Group L.L.C. has acquired the assets of Lube Stop Inc. from the company's founder.
Founded in 1985, Lube Stop is the oldest privately owned quick oil change company in Northeast Ohio, according to Argonne. The company operates 37 locations in the Cleveland and Akron-Canton areas that service the vehicles of more than 25,000 customers per month with complete oil changes and ancillary automotive services.
Lube Stop's corporate office will remain in the Cleveland area. The companies did not disclose the acquisition cost.
Argonne's portfolio includes brands such as IHOP, Applebee's, Krystal, On The Border and Stevi B's Pizza, with system-wide annual sales in excess of $1.5 billion.