DALLAS — Private equity firm CenterOak Partners L.L.C. has acquired Grease Monkey International L.L.C., the franchisor of the Grease Monkey, SpeeDee and LubePro's quick-lube and Monkey Shine car wash businesses.
Greenwood, Colo.-based Grease Monkey — d.b.a. FullSpeed Automotive — also operates 41 Havoline xpress lube locations in Georgia and Illinois as part of its Retail Operations Division.
Financial terms of the transaction were not disclosed.
CenterOak Managing Partner Randall Fojtasek said CenterOak is "excited about the growth potential in the automotive service industry and see an attractive opportunity for future consolidation.
Acquiring a company like FullSpeed Automotive — already performing above industry growth rates with its well-known brands — "provides the ideal investment platform to accelerate both organic growth and footprint growth through acquisitions," he added.
The current FullSpeed Automotive management team will continue to serve under the leadership of President and CEO John B. Adams, CenterOak said.