In the past six months, two prominent auto service franchise programs — Precision Tune Auto Care and SpeeDee Oil Change & Auto Service — have gotten new owners that have pledged to build these programs alongside their existing auto service businesses but have not discussed in detail how they plan to do so.
SpeeDee now belongs to Greenwood, Colo.-based Grease Monkey International L.L.C., considered one of the nation's largest independent franchisors of automotive fast-lube centers, with more than 220 locations in the U.S.
Grease Monkey President and CEO John B. Adams, a former TBC Corp. executive, said in February that his company's team is "eager to begin working with franchisees to leverage current relationships, further establish the brand in existing markets and expand horizons in areas yet to be explored."
Since then, however, Grease Monkey hasn't commented publicly about its plans for the SpeeDee program and didn't reply to Tire Business' inquiries for comment.
The SpeeDee network comprises 100-plus franchised SpeeDee-branded shops across the U.S., predominantly in California, Texas, the Gulf Coast, the Mid-Atlantic and New England. Grease Monkey acquired the business from TBC, which had acquired it in 2012 as part of its $310 million purchase of Midas Inc.
The Precison Tune Auto Care franchise program — comprising more than 250 Precision Tune-branded retail locations throughout the U.S. — is now administered by Icahn Enterprises L.P., the company that oversees the 1,000-outlet-strong Pep Boys and AutoParts Plus network.