MidOcean Partners Acquires FullSpeed Automotive
Dec. 2, 2020—MidOcean Partners, a private equity firm, has officially acquired FullSpeed Automotive, reports Business Wire.
FullSpeed Automotive, an auto aftermarket services platform offering oil changes, tire sales and rotations, brake services, car washes and more through multiple brands (including Grease Monkey and SpeeDee), was founded in 1978 and has nearly 600 automotive centers across the U.S. as well as internationally.
MidOcean Partners, which specializes in middle market private equity and alternative credit investments, plans to continue the company’s growth plan through comprehensive organic initiatives.
“MidOcean has been evaluating the auto aftermarket services space for a number of years and is thrilled to partner with FullSpeed’s exceptional management team for the Company’s next phase of growth," said Daniel Penn, MidOcean managing director, in the report. "We believe FullSpeed will continue to experience strong growth from its existing locations with industry leading customer service and robust performance metrics. We also plan to support the Company’s existing aggressive M&A strategy, as well as to drive franchise development in new and existing markets."