Thompson Street Capital Partners (TSCP) has announced the sale of Express Oil Change & Service Center (Express) of Birmingham, Alabama to Carousel Capital, a Charlotte-based private equity firm. Terms of the transaction were not disclosed.
Express owns, operates and franchises nearly 200 total car care facilities that provide oil changes, maintenance and repair services across 13 states. TSCP partnered with management to acquire Express in mid-2010.
“With its strong management team, well-developed systems, and a differentiated operating model, Express has been a proven platform for growth,” said Bill Willhite, a Managing Partner of TSCP. “We’ve enjoyed working with the business, helping bolster the company’s already-strong market position by growing store count through acquisitions and greenfield startups, while also supporting increased customer acquisition, conversion, and retention across the entire Express platform.”
Said Ricky Brooks, CEO of Express, “It has been a pleasure working with the TSCP team. Through our combined efforts, we have aggressively pursued franchise opportunities and expanded our company-owned operations – all while maintaining our focus on providing outstanding customer service. We’re partnering with Carousel Capital for a second time in the company’s history and we’re looking forward to working with them again to drive continued growth.”
Carousel Capital (www.carouselcapital.com) is a private investment firm that focuses on investing in companies located in the Southeastern United States. The firm has an extensive track record of partnering with management teams to build leading companies with national and global presence within its three targeted growth sectors: business services; consumer products and services; and healthcare services.
About Express Oil Change & Service Center (www.expressoil.com)
Express Oil Change & Service Center, a recognized leader in the automotive service industry, is headquartered in Birmingham, Alabama and operates automotive service centers providing total car care solutions to customers across 13 southern states through nearly 200 corporate and franchise locations.
