M&A Deal Summary

MidOcean Partners Acquires FullSpeed Automotive

On November 30, 2020, private equity firm MidOcean Partners acquired automotive company FullSpeed Automotive from CenterOak Partners

Acquisition Highlights
  • This is MidOcean Partners’ 1st transaction in the Automotive sector.
  • This is MidOcean Partners’ 43rd transaction in the United States.
  • This is MidOcean Partners’ 2nd transaction in Colorado.

M&A Deal Summary

Date 2020-11-30
Target FullSpeed Automotive
Sector Automotive
Buyer(s) MidOcean Partners
Sellers(s) CenterOak Partners
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)

Target

FullSpeed Automotive

Greenwood Village, Colorado, United States
FullSpeed Automotive is an 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 Automotive was formed in 1978 and is headquartered in Greenwood Village, Colorado.

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Buyer(S) 1

Buyer

MidOcean Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MidOcean Partners is a private equity firm focused on acquiring controlling interests in middle-market companies throughout North America. The Firm has a preference for consumer and business services sectors including automotive, food/beverage, retail, consumer products, information services, infrastructure services, training and more. MidOcean seeks opportunities valued between $150 and $750 million where it can commit $75 to $300 million. In addition to investing equity, MidOcean also looks to provide flexible credit solutions as well. MidOcean Partners was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 48 of 60
Sector (Automotive) 1 of 3
Type (Secondary Buyout) 17 of 25
State (Colorado) 2 of 2
Country (United States) 43 of 55
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-27 Music Reports

Woodland Hills, California, United States

Music Reports is an independent provider of music rights data, administration, and management services. Music Reports was founded in 1995 and is based in Woodland Hills, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-04 Empower Brands

Glen Allen, Virginia, United States

Empower Brands is a multi-brand franchise platform focused on commercial and residential services with core offerings including cleaning, restoration, virtual office services, outdoor living space construction, outdoor lighting, and irrigation services. Empower Brands was founded in 1991 and is based in Glen Allen, Virginia.

Buy -

Seller(S) 1

SELLER

CenterOak Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2014
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CenterOak Partners is a private equity firm focused on making control-oriented investments in middle-market companies operating in the industrial, consumer, and business services sectors. The Firm will consider opportunities throughout the US and targets companies valued between $50 to $500 million. Prospective transaction situations include buyouts, recapitalizations, consolidations, and non-core divestitures. CenterOak Partners was formed in 2014 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 2 of 8
Sector (Automotive) 1 of 2
Type (Secondary Buyout) 1 of 5
State (Colorado) 1 of 1
Country (United States) 2 of 8
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-01 CollisionRight

Columbus, Ohio, United States

CollisionRight is a provider of automotive collision repair services through a network of 89 facilities across nine states including Illinois, Indiana, Kentucky, Maryland, Michigan, Ohio, Pennsylvania, Tennessee, and West Virginia. The company shops repair over 90,000 cars per year and maintains over 100 direct repair programs with insurance carriers. CollisionRight is based in Columbus, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Service Champions

Brea, California, United States

Service Champions is a provider of essential residential service and replacement services including air conditioning repair and replacement, plumbing, solar and electrical services. Service Champions was founded in Brea, California.

Sell -