Harris Williams Advises FullSpeed Automotive on its Sale to MidOcean Partners
December 01 2020 - 11:21AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised FullSpeed
Automotive (FullSpeed), a portfolio company of CenterOak Partners
LLC (CenterOak), on its sale to MidOcean Partners (MidOcean).
FullSpeed is one of the largest franchisers and operators of
automotive service centers, primarily under the Grease Monkey and
SpeeDee brands. The transaction was led by Joe Conner, Frank
Mountcastle, Jeff Burkett, Jonathan Meredith, Elliott Yousefian and
Michael Meyer of the Harris Williams Transportation & Logistics
(T&L) Group.
“FullSpeed’s highly capable leadership team, industry leading
brands and first-rate customer service will all ensure continued
success as the company begins the next chapter of its growth with
MidOcean,” said Joe Conner, a managing director at Harris Williams.
“We are grateful to have had the opportunity to work with the
company and extend our outstanding track record of successful
transactions in the automotive aftermarket.”
“It was a privilege to work with the teams at FullSpeed and
CenterOak during this transaction. FullSpeed provides essential
services to loyal clients throughout the country, and we are
excited to see what the company accomplishes under its new
ownership,” said Elliott Yousefian, a vice president at Harris
Williams.
FullSpeed is a leading automotive aftermarket services platform
offering oil changes, tire sales and rotations, brake services, car
washes and other ancillary services through multiple brand formats
that target several highly attractive segments of the service
market. The company’s strategic geographic footprint of nearly 600
franchised and company owned locations provide density in high
growth markets. FullSpeed supports two core brand platforms under
the Grease Monkey and SpeeDee brands. FullSpeed is headquartered in
Greenwood Village, Colorado.
CenterOak is a private equity firm with a focus on making
control-oriented investments in middle market companies organized
or operating in the United States. The firm specializes in three
key industry sectors: industrial growth, consumer and business
services. Based in Dallas, the investment and portfolio management
team has a strong history of creating significant value through
operational improvement. CenterOak and its partners have managed
over $2.2 billion of equity capital commitments and have completed
over 100 acquisitions, representing over $4.8 billion in
transaction value.
MidOcean is a premier New York-based alternative asset manager
that specializes in middle market private equity and alternative
credit investments. Since its inception in 2003, MidOcean Private
Equity has managed approximately $4.8 billion of committed capital
and has targeted investments in high-quality middle market
companies in the consumer and business services sectors. MidOcean
Credit Partners was launched in 2009 and currently manages over
$7.5 billion across a series of alternative credit strategies,
collateralized loan obligations (CLOs) and customized separately
managed accounts as of September 30, 2020.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams T&L Group serves companies in a broad
range of attractive niches, including third-party logistics (3PL),
automotive and heavy duty vehicle, transportation equipment, and
truck, rail, marine and air transportation. For more information on
the firm’s T&L Group and other recent transactions, visit the
T&L Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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For media inquiries, please contact Julia Moore at
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