FullSpeed Automotive, a franchisor of aftermarket repair brands, has accelerated its growth with its acquisition strategy to reach its target of having 1,000 units by the end of 2023. FullSpeed most recently acquired Kwik Industries, the Kwik Kar brand and 25 locations from owners. This mark’s the franchisor’s 10th acquisition of the year, for a total of 40 units across six states.
FullSpeed has acquired 25 Kwik Kar centers, four Texas Express Lube centers and units in Connecticut, Florida, New Mexico and Wisconsin. The Kwik Kar brand specializes in full-service oil changes, scheduled maintenance, state inspections, and many other automotive repair services.
“We are thrilled to acquire a quality brand like Kwik Kar that has such a tremendous reputation and loyal customer base,” said Kevin Kormondy, CEO of FullSpeed Automotive.
“This acquisition further solidifies our position as one of the nation’s largest automotive aftermarket services operators and franchisors. We look forward to further developing the Kwik Kar brand as well as growing the number of units that we own.”
Alongside its acquisition strategy, the brand has awarded 25 franchise agreements so far in 2022 and aims to continue on this trajectory of growth. Since the franchisor was acquired by MidOcean Partners in November 2020, the brand has completed over 30 acquisitions for 110 locations.
“Acquisitions are a key priority of FullSpeed’s aggressive growth strategy as we continue our expansion efforts,” said Greg Penman, vice president of mergers and acquisitions at FullSpeed Automotive.
“The first half of the year has been off to a busy start with several large and successful acquisitions across the country, and we are working very hard to make strategic decisions to set FullSpeed up for success in the future.”
Read our interview with FullSpeed CEO, Kevin Kormondy.