Leeds West adds 6th Midas location in Oklahoma

NORMAN, Okla. — Leeds West Groups (LWG) has acquired a Midas-branded franchise in Norman, expanding its Midas network in the Sooner State to six locations.

Leeds West bought the franchise and the location's real estate from Abdolmohammad Vafaei, who according to LWG has now retired. The purchase price and terms of the deal were not disclosed.

The Norman store will operate under the district management of Steve Cascio, who oversees the Midas Oklahoma market within LWG's Auto Systems Expert Division, as well as under ASE COO Alan Mahrt and LWG COO Derek Wessels.

LWG acquired ASE, an employee-owned company out of Davenport, Iowa, along with its 42 Midas locations in the Midwest in 2017.

LWG CEO Judd Shader said the group is "incredibly excited to be adding another Midas location in our Oklahoma market. The Oklahoma City market is a strategic growth opportunity for us and I am excited to announce our second location in this designated market area within the last 90 days."

This acquisition is LWG's 21st location addition and 35th real estate purchase in the last 24 months.

Greenwood Village-based LWG operates 107 locations in 18 states under three franchised automotive repair brands — Midas (81 locations), Big O Tires (26) and SpeeDee Oil Change & Auto Service (6).

Mr. Shader told Tire Business previously that when LWG decides to purchase locations in a market, it intends to be there for the long haul. That's why, he said, the group pursues purchasing the real estate as well.

"We're planted; we're there," he said. "We're very, very lucky with the board, the way we are done. We're financed with big-time players, in cash. We're not leveraged; we're not playing with anyone else's money. We're not trying to create multiples. We're putting money to use in the industry that we believe in, and we're building a foundation of one company that will be there for a very, very long time."