FullSpeed Automotive® Announces Six Acquisitions in Mississippi, Fueling Desired Statewide Expansion
JACKSON, Miss. - FullSpeed Automotive®, one of the nation’s largest franchisors and operators of automotive aftermarket repair facilities, home to flagship brands Grease Monkey® and SpeeDee Oil Change & Auto Service®, has announced the recent acquisition of six quick lube and automotive service centers in Mississippi. All locations will be rebranded as Grease Monkey. Coming off the heels of this news, both flagship brands have set an aggressive development goal to grow to 20 combined centers throughout the state by the end of 2025.
The six acquired quick lube and automotive service centers currently operate as Calypso Automotive in Cleveland, Greenville, Kosiusko, Natchez, and Oxford. All are set to be rebranded as Grease Monkey by summer 2022. FullSpeed Automotive’s acquisition strategy has played a strategic role in the nationwide expansion of Grease Monkey and SpeeDee Oil Change & Auto Service - with 24 completed acquisition transactions comprised of 66 competitor conversions since being acquired by MidOcean Partners in November 2020.
With soon to be 10 open facilities across both brands throughout the state, there is vast whitespace for continued development. The FullSpeed leadership team sees prime opportunity for both Grease Monkey and SpeeDee Oil Change & Auto Service in Jackson, Hattiesburg, Gulfport, Meridian, and Tupelo. Looking to add 10 new locations to these markets over the next three years, the brands aim to grow with franchisees as well as through strategic acquisitions.
“With only a select number of facilities operating in the state, there is an incredible opportunity to build out our brands in high-profile markets,” said Kevin Kormondy, Chief Executive Officer of FullSpeed Automotive. “Over the past few years, we’ve been on a phenomenal growth curve making now an opportune time to invest. With the right concepts, proven track records, and a booming auto aftermarket industry, we’re eager to accelerate our development efforts across Mississippi.”
Largely unimpacted by the pandemic, the auto care industry is expected grow nearly 25% and reach $477.6 billion by 2024, according to the Auto Care Association’s most recent research study. With more cars on the road, more miles driven, and the average age of cars growing into the teens, FullSpeed Automotive is well-poised for the future.
FullSpeed Automotive is looking to bring on qualified and engaged individuals seeking single, multi-unit, and conversion opportunities. When franchisees invest with FullSpeed Automotive brands, they’re investing in an organization with a strong culture, solid systems, and a proven business models backed with 70+ years of experience in providing quality car care in the industry. FullSpeed has its eyes set on aggressive development ahead with a goal to reach its 1,000-unit milestone by the end of 2022/early 2023.
According to the 2020 Franchise Disclosure Documents, the Top 50% of Grease Monkey’s franchised stores generated $1,053,386 AUV and the Top 50% of SpeeDee Oil Change & Auto Service’s franchised stores generated $1,385,243 AUV.
For more information on Grease Monkey or SpeeDee Oil Change & Auto Service, visit fullspeedautomotive.com or call 800-364-0352.
About FullSpeed Automotive®
FullSpeed Automotive® 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 desirable segments of the service market. The company’s strategic geographic footprint of 700-plus franchised and company-owned locations provide density in high growth markets. The company’s flagship brands include Grease Monkey® and SpeeDee Oil Change & Auto Service®. FullSpeed is headquartered in Greenwood Village, Colorado.