FullSpeed Automotive, the franchisor and operators of automotive aftermarket repair facilities, announced that it completed the acquisition of 25 quick lube and automotive service centers in the Dallas-Ft. Worth market. The acquisition included four different automotive center brands, with the majority being Kwik Kar Automotive Lube & Service Centers.
FullSpeed Automotive has now completed another four acquisitions in four different states in the last six weeks, adding a total of 29 new automotive maintenance and repair centers to its portfolio. The company has completed 12 acquisition transactions that added 46 new centers since being acquired by MidOcean Partners in November 2020, and now has over 675 franchised and company-owned locations.
“This acquisition is another big leap in the growth of FullSpeed Automotive, and substantially builds our presence in the important Dallas-Ft. Worth market,” said Kevin Kormondy, Chief Executive Officer of FullSpeed Automotive. “We look forward to continuing to expand our footprint across the country, and completing additional acquisitions. Our strategy, in addition to building our franchised operations, is to continue to identify and work with independent shop owners who are considering a sale if they can find the right fit, as we did here.”
Ryan Ghoutiemeh, previous owner of the 25 locations, agreed that there was an ideal fit with FullSpeed Automotive.
“The teams that operate these centers have a long history of serving the Dallas-Ft Worth metro, and I appreciate their dedication to delivering quality car care,” said Ghoutiemeh. “They are in good hands with FullSpeed. I am impressed by the FullSpeed team, as they are focused on a smooth transition for our employees and customers and have a vision for future growth.”