COLORADO SPRINGS, Colo. — Leeds West Groups (LWG) has acquired a Big O Tires location in Colorado Springs, its third Big O store in that city and 12th throughout Colorado.
Leeds West bought the business, a six-bay structure on the eastern outskirts of Colorado Springs, from Mike Underwood and Colorado Automotive Services Inc.
Financial terms are not being disclosed at this time. LWG said it is pursuing the purchase of the site's real estate as well.
The acquisition boosts LWG's network of Big O Tires stores to 32 in 14 states, solidifying the Greenwood Village, Colo.-based company's status as the No. 1 Big O franchisee nationwide. LWG also operates 82 Midas Auto Care locations in 18 states throughout the U.S.
LWG did not elaborate on Mr. Underwood's reasons for selling. He was unavailable for comment as of Aug. 3.
LWG acquired one of its other Colorado Springs Big O stores last December, along with a store in Monument, from Lone Star Investments L.L.C.
Earlier this year, LWG acquired three Big O Tires outlets in Oklahoma from MFA Oil Co.
With 114 franchised stores total operating under the Midas, Big O and SpeeDee Oil brands, LWG is considered the 11th largest independent tire dealership in the U.S., according to Tire Business calculations.
LWG, through its Leeds West Property Group division, is active on a broader scale in Colorado Springs, working with Niebur Development to invest in the Trolley Block Project in the downtown area of the city of 425,000 inhabitants located 70 miles south of Denver.