Nov. 30, 2020—FullSpeed Automotive will change hands after private equity owner CenterOak Partners sold the company to MidOcean Partners.
The financial terms weren't disclosed in a press release announcing the deal. CenterOak acquired FullSpeed in 2017.
“Working hand-in-hand with the FullSpeed team, we successfully expanded our footprint into new markets and were able to gain market share within our existing geographic footprint,” said Lucas Cutler, a Managing Partner of CenterOak, in the release. “During our hold we completed 15 add-on acquisitions in key markets to further develop our national presence across multiple brands, while focusing on integration efforts and expanding the customer base.
FullSpeed CEO Kevin Kormondy was quoted in the release, saying he looks forward to the next chapter under MidOcean.
FullSpeed is the fourth-largest quick lube operator in the United States and operated the Grease Monkey and SpeeDee brands. Together, they have more than 600 locations worldwide, the press release said.
