GREENWOOD VILLAGE, Colo. — FullSpeed Automotive, operator and franchisor of the Grease Monkey and SpeeDee Oil Change businesses, has acquired 10 automotive maintenance and repair centers in five states that it's rebranding under the Grease Monkey banner.
The acquired centers — in Georgia, South Dakota, Texas, Utah and Wisconsin — will expand the Grease Monkey network to over 260 locations in 35 states. Financial details of the five deals were not disclosed.
FullSpeed CEO Kevin Kormondy lauded the acquired businesses' previous owners for the "tremendous job" they did in building "strong businesses with a loyal guest following."
FullSpeed identified only one of the five businesses acquired: Super Lube Plus with four centers in the Rapid City, S.D., metro area.
Billy Cannon, previous owner of Super Lube Plus, complimented FullSpeed on its acquisition process, saying: "Working with the FullSpeed team was a very efficient and smooth process. They moved quickly, and kept their word as we finalized terms."
The other centers acquired are in Locust Grove, Ga.; Montgomery, Texas; Roy, Utah; and Chippewa Falls and Eau Claire, Wis.
Mr. Kormondy noted that FullSpeed "welcomes the opportunity to speak with other independent shop owners who may be evaluating the current economic and tax uncertainty and are considering a sale, as FullSpeed Automotive has the resources and expertise to move quickly to close transactions."
Greenwood Village-based FullSpeed Automotive was acquired in December by private equity firm MidOcean Partners.
Since then, FullSpeed has acquired 17 new centers and now has over 650 franchised and company-owned locations operating under the two brands.