Wynnchurch Capital completed the acquisition of Heartland Automotive Services, Inc., the largest operator of Jiffy Lube service centers with around 523 locations. Heartland will be renamed Team Car Care, LLC. The deal was completed in partnership with Mid-Atlantic Lubes, Inc., an existing Jiffy Lube franchise. Wynnchurch made the investment from its $1.3 billion Fund IV.
Wynnchurch Capital, LLC (“Wynnchurch”) announced today that it has completed the acquisition of Heartland Automotive Services, Inc. (“Heartland” or the “Company”). Heartland, which will be renamed Team Car Care, LLC, is one of the largest franchisees in the quick lube business and is the largest operator of Jiffy Lube service centers with approximately 523 locations. The acquisition was completed in partnership with Mid-Atlantic Lubes, Inc., an existing Jiffy Lube franchisee.
John Hatherly, Co-Managing Partner at Wynnchurch said, “Heartland is a tremendous addition to our portfolio of service businesses. We feel very fortunate to be partnering with Jiffy Lube International, Inc. We are also excited to partner with Mid-Atlantic Lubes, Inc. and its 10-year history of outstanding customer service delivery that will continue on with each of Heartland’s guests.”
Erin Murphy, Managing Director at Wynnchurch added, “We are excited to invest in Heartland and to build on the Company’s leadership position in the quick-lube retail service market. We believe that Heartland’s focus on providing customers with industry leading quality, availability and service, combined with the experience and leadership of Mid-Atlantic Lubes, Inc., positions Heartland to be a strong platform for growth.”
Wynnchurch Capital is actively investing from its $1.3 billion Fund IV. In November 2017, Wynnchurch acquired America II, a global leader in electronic component distribution and supply chain services serving a broad array of products for use in higher value-add applications across diversified end-markets. Other recent Wynnchurch investments include Stampede Meat, a processor and distributor of portioned, marinated and cooked beef, chicken, and other protein products for restaurants, retail, home delivery and other channels; and Rosboro Company, LLC, a leading integrated forest products operation producing a wide variety of products including laminated beams, studs, and veneer.
Heartland, headquartered in Irving, Texas, is the market leader in the quick oil change segment of the “Do-It-For-Me” (“DIFM”) automotive aftermarket. The company operates 523 stores across 26 states. The company has grown to be the largest operator and franchisee of the highly-recognizable Jiffy Lube brand. For more information, please visit: http://www.heartland.jiffylube.com.
About Wynnchurch Capital:
Wynnchurch Capital, LLC, headquartered in the Chicago suburb of Rosemont, Illinois, with offices in California and Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $2.2 billion of committed capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit: www.wynnchurch.com.