TSCP Acquires Express Oil Change & Service Centers
St. Louis, Mo. (June 16, 2010) – Thompson Street Capital Partners (TSCP), a private equity fund based in St. Louis, announced today that it has partnered with management to acquire Express Oil Change & Service Center (Express) of Birmingham, Alabama. Terms of the transaction were not disclosed. Express specializes in automotive service and expert vehicle maintenance and has more than 172 company- and franchisee-owned locations throughout the southern region of the U.S.
“For more than 30 years, Express Oil Change & Service Center has built its strong reputation by quickly, conveniently, and professionally providing the highest quality products and services to our customers” said Ricky Brooks, CEO of Express. “We look forward to working with Thompson Street Capital Partners to drive continued growth in our served markets and to pursue expansion opportunities in attractive new markets.”
TSCP acquired the auto service leader through a partnership with the company’s management team. This is the 27th acquisition for TSCP, which manages $450 million in private equity funds. TSCP invests in a variety of privately held service, manufacturing, and distribution companies.
“We see great promise and future growth in this unique segment of the independent automotive service industry and are excited to partner with such an expert management team,” said Bill Willhite, executive vice president of TSCP. “As people drive more miles in increasingly older vehicles, demand for a total car care service provider that is both convenient and reliable is higher than ever. This demand, coupled with Express’s well-earned reputation for outstanding customer service, will ensure our continued growth and success.”
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, Ala. and operates automotive service centers providing total car care solutions to customers across 10 southern states through more than 172 corporate and franchise locations.
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