GREENWOOD VILLAGE, Colo. — FullSpeed Automotive acquired three quick lube and automotive service centers in the past week, bringing to 14 the number of stores acquired since the start of the third quarter and 60 in the past year.
The 14 centers — acquired in nine separate transactions — will be rebranded as either Grease Monkey or SpeeDee Oil Change & Auto Service locations, FullSpeed Automotive said.
The latest acquisitions are Super Lube Service in Boliver, Mo., and a pair of franchised Grease Monkey centers in Savage and Eden Prairie, Minn.
Financial terms were not disclosed.
The other acquisitions during the quarter were in Arizona, Colorado, Connecticut, Louisiana, New Hampshire and Texas, FullSpeed said.
With these latest acquisitions, FullSpeed oversees 690 franchised and company-owned oil-change locations under its two brands — 357 Grease Monkey centers and 195 SpeeDee Oil Change & Automotive Centers.
Six of the 60 stores acquired since last November were existing Grease Monkey/SpeeDee locations, FullSpeed said.
"We are excited about the continued expansion of the FullSpeed portfolio, …" FullSpeed CEO Kevin Kormondy said.
"Our acquisitions are not limited by geography or number of units. When we find the right acquisition partner we will move quickly, and we encourage independent auto center owners considering a sale of their business to contact us."
MidOcean Partners, a New York-based private equity firm, acquired FullSpeed Automotive last December for an undisclosed amount from Dallas-based CenterOak Partners, which had owned FullSpeed Automotive since November 2017.
In addition to the Grease Monkey and SpeeDee brands, FullSpeed supports the American Lubefast and Uncle Ed's Oil Shoppe brands and operates over 50 Havoline xpress lube locations.