Caldwell Zimmerman, principal at Kian Capital Partners, recently discussed with PE Hub plans the company has for its recently acquired Meineke Car Care Center franchisee, which has rapidly become the brand’s largest franchise company.
Kian first acquired a Meineke franchisee in 2023, launching it as a platform called PARC Auto that in just a year has grown from 15 to 35 locations, spanning across Florida, Indiana, Texas and the Portland, Oregon, metropolitan area.
PARC has no intention of slowing down anytime soon, with Zimmerman sharing that plans are now in motion to open locations in Nashville, Tennessee.
“It’s a really attractive growing market, where we have a couple planned new locations that we’re working on and are actively trying to find a way to penetrate more meaningfully,” Zimmerman said.
Though the company does not currently have any specific numbers in terms of goals, a combination of acquisitions and openings could bring PARC to operate 75 locations by this time next year, doubling its current store count.
Zimmerman added that the company has no target in mind for a potential exit, but that the next buyer would likely be another private equity firm.
