GREENWOOD VILLAGE, Colo. — Greasemonkey and Speedee Oil Change franchisor FullSpeed Automotive acquired 29 quick lube and automotive service centers in in past several weeks, including 25 in the Dallas-Fort Worth market.
The stores in the Dallas-Fort Worth area operate under four automotive center brands, including 25 under the Kwik Kar Automotive Lube & Service Centers badge. FullSpeed plans to convert them to its SpeeDeeOil Change & Auto Service brand and operate them as corporate stores.
The other four stores acquired were: two Kwik Kar locations, in Oklahoma City and Edmund, Okla.; a Kwik Kar center in Waxahachie, Texas; and Metzger's Auto Service in Lincoln, Neb.
Financial details were not disclosed.
These latest acquisitions bring to 46 the number of stores added since FullSpeed was acquired last November by MidOcean Partners, a New York-based alternative asset manager that specializes in middle-market private-equity and alternative-credit investments.
FullSpeed Automotive now has over 675 franchised and company-owned locations operating under its Grease Monkey and Speedee Oil Change brands.
FullSpeed CEO Kevin Kormondy called this latest acquisition "another big leap" in the Greenwood Village-based company's growth, especially in the "important" Dallas-Fort Worth market.
"We look forward to continuing to expand our footprint across the country, and completing additional acquisitions. Our strategy, in addition to building our franchised operations, is to continue to identify and work with independent shop owners who are considering a sale if they can find the right fit, as we did here."
Ryan Ghoutiemeh, previous owner of the 25 locations, said FullSpeed Automotive is "an ideal fit" for the business he operated there.
"The teams that operate these centers have a long history of serving the Dallas-Ft. Worth metro, and I appreciate their dedication to delivering quality car care," Mr. Ghoutiemeh said in a statement provided by FullSpeed.
"They are in good hands with FullSpeed. I am impressed by the FullSpeed team, as they are focused on a smooth transition for our employees and customers and have a vision for future growth."
The Kwik Kar Automotive Lube shops are not to be confused with Kwik-Kar Auto Repair & Car Care Center, a separate business with eight locations in the Dallas-Ft. Worth metro area.
There are 11 Grease Monkey and 10 Speedee Oil Change locations already operating in Texas.
In May, FullSpeed acquired 10 automotive maintenance and repair centers in in Georgia, South Dakota, Texas, Utah and Wisconsin that it rebranded as Grease Monkey stores. Those dealers expanded the Grease Monkey network to over 260 locations in 35 states.
