Automotive Acquisitions in 2021

Dobbs Equity Partners, through its holding Dobbs Family Automotive, acquired Papa's Dodge, Inc. (dba Papa's Chrysler Dodge Jeep Ram) in a transaction that closed on November 5, 2021. The acquisition adds the New Britain, Connecticut dealership to Dobbs' portfolio of franchise automobile dealerships as an add-on to its existing platform.

Fenix Parent LLC (operating as Fenix Parts) has completed its acquisition of the assets of All Foreign Used Auto Parts, Inc. in Columbus, Ohio. The deal marks Fenix's first acquisition in the Midwest as it expands production capacity and its regional footprint; Fenix is PE-backed by Stellex Capital Management LLC.

Portsmouth, New Hampshire-based Key Auto Group has acquired Thomas Chevrolet Buick in Perry, Florida from owner Cal Thomas. The single-location dealership will continue operating at its existing address under the Key Auto Group banner (renamed Key Chevrolet Buick of Perry) as Key Auto Group expands into the Southeast market.

LUV Car Wash, a Susquehanna Private Capital‑backed express car wash platform, closed five separate deals to acquire 20 car wash locations across Florida and Georgia. The acquisitions were completed from Shiny Shell, Sporty's, Jeff's Express, Rocket Express and Hi‑Speed Car Wash as LUV debuts its initial Southeast footprint.

Express Wash Concepts acquired three Snazzy's Express Car Wash locations — two in Richmond, Indiana and one in Mason, Ohio — effective December 22, 2021. The deal expands Express Wash Concepts' express car wash portfolio to 54 operating locations; the acquired sites will be temporarily closed for renovation and converted to the company's Flying Ace brand.

Mammoth Holdings, LLC has acquired Wasatch Express Car Wash, a one-unit express car wash operator in West Jordan, Utah; the Wasatch Express owners also made equity investments in Mammoth. The deal expands Mammoth's footprint in Utah (bringing its total to six stores in the state) and supports its planned regional growth pipeline.

Clayton, Dubilier & Rice Fund X sold its investment in Belron in a two-part transaction that values Belron at €21 billion. Approximately 39% of CD&R Fund X's stake was sold to funds managed by **Hellman & Friedman**, **GIC**, and **BlackRock Private Equity Partners**, while the remaining 61% was transferred into a CD&R‑managed SPV (CD&R Value Building Partners I, L.P.) to continue CD&R's partnership with Belron.

Mammoth Holdings announced that SUDS Car Wash, a four-unit express car wash operator in eastern Kentucky, has joined the Mammoth platform. SUDS owner Jeremy Holbrook made a significant equity investment in Mammoth as part of the transaction, which grows Mammoth's footprint in Kentucky to nine locations.

Mavis Tire Express Services Corp. has agreed to acquire Tuffy Tire & Auto Service Centers, adding Tuffy's ~165 service centers to Mavis's national footprint. Tuffy will remain headquartered in Toledo, Ohio, with CEO Roger Hill joining the combined company's leadership; terms were not disclosed.

Percheron Capital has signed a definitive agreement to acquire a majority stake in Caliber Car Wash, a leading express conveyor car wash platform with more than 50 existing and pipeline locations. Founders Mac McCall and Danny York will remain significant equity holders and continue to lead the company, while Eagle Merchant Partners will exit its prior majority position but retain a minority interest; financial terms were not disclosed.

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Big Brand Tire (Phoenix) acquired three Arizona-based tire and auto service businesses — C&R Tire, S&S Tire & Auto Service Center, and Community Tire Pros & Auto Repair — in a transaction that closed in mid-December 2021. The combined 14-location deal, brokered by FOCUS Investment Banking, expands Big Brand Tire's footprint in the Phoenix area and increases its regional store count.

Tidal Wave Auto Spa acquired W4 Express Wash’s locations, including the Bluffton, South Carolina site at 1492 Fording Island Rd, adding ten open locations and a pipeline of greenfield development. The W4 sites will be rebranded to Tidal Wave and will undergo targeted improvements; Tidal Wave, a PE-backed car wash platform, said the deal supports its aggressive expansion and development strategy.

Vehicle Accessories, Inc. (VAI), a portfolio company of Kinderhook Industries, acquired Remington Global, a manufacturer of floor protection products for automotive OEMs. The acquisition is VAI's sixth add-on and is intended to expand VAI's floor mat and floor protection offering, leverage Remington's OEM relationships, and create cross-selling opportunities across product categories and customers.

DexKo Global's wholly owned subsidiary Dexter Axle Company has acquired Progress Mfg. Inc., a Provo, Utah-based maker of integrated sway control hitches and towing accessories (brands include Equal-i-zer and Fastway). The deal expands Dexter/DexKo's portfolio of towing and trailer safety products and broadens its offering to OEM and dealer channels across North America.

Sensata Technologies (NYSE: ST) has acquired Sendyne Corp, a New York–based developer of current/voltage sensing ICs, isolation monitors and physics-based battery modeling for electric vehicles, charging stations and stationary storage. The deal expands Sensata’s electrification component portfolio and capabilities; financial terms were not disclosed and Sendyne’s engineering team will join Sensata.

Garnett Station Partners has made a growth investment in WOW Carwash, the Las Vegas-based operator of eco-friendly, tech-enabled express car washes. The capital from Garnett Station's GSP 3.0 Fund will be used to accelerate geographic expansion and growth of WOW's multi-location platform across the Southwestern United States; financial terms were not disclosed.

Mister Car Wash, Inc. (NYSE: MCW) acquired Downtowner Car Wash’s five locations in Cape Coral, Florida from the Montpetit family. The deal expands Mister Car Wash’s South Florida footprint; the acquired stores will continue operating in the near term and will be rebranded and integrated into Mister’s network over the coming months.

Asbury Automotive Group acquired Stevinson Automotive, adding eight dealerships in the Denver, Colorado market and approximately $715 million in annualized revenue. The transaction brings Stevinson’s more than 600 team members into Asbury’s dealer portfolio as part of Asbury’s continued geographic expansion and scale-building in high-growth markets.

Morrie's Automotive Group acquired the Grand Ledge Ford Lincoln and Merrill Ford Okemos dealerships from Barry C. Merrill. The Presidio Group advised the seller on the transaction as Morrie's expands into Michigan, adding the two Ford/Lincoln franchises to its multi-state dealer network.

Sonic Automotive, a Fortune 500 automotive retailer, has completed the acquisition of RFJ Auto Partners, adding 33 dealership locations across seven states and a portfolio that includes Dave Smith Motors. The deal is expected to add approximately $3.2 billion in annualized revenues and expand Sonic's geographic footprint and brand portfolio, moving the company into the top-five U.S. dealer groups by revenue.

Charger Investment Partners (through an affiliate) completed the acquisition of PerTronix, LLC, a San Dimas, California-based designer and manufacturer of performance aftermarket automotive products. PerTronix's leadership will remain in place and Charger plans to support organic growth and strategic M&A initiatives to expand the platform and accelerate growth; financial terms were not disclosed.

Peterson Partners (referred to in some reports as Peterson Private Equity) has invested in WashU, a Chicago-area car wash operator headquartered in Plainfield, Illinois. The capital will fund WashU’s expansion into new markets and the development and acquisition of additional express car wash locations while the existing management team remains in place.

Main Street Capital Corporation provided $27.1 million in first-lien senior secured term debt and a direct minority equity investment to facilitate a minority recapitalization of DMA Sales, LLC, alongside an unnamed co-investor. The transaction supports DMA, a Tabor City, North Carolina-based designer and distributor of ride control and other automotive aftermarket products, and provides liquidity to existing owners while financing continued growth.

Atlanta-based Mammoth Holdings announced that Silverstar Car Wash (a 14-unit express car wash operator) has agreed to join the Mammoth organization. Silverstar's ownership group also made a significant equity investment in Mammoth as part of the transaction, expanding Mammoth's operator-led multi-brand car wash platform across the Midwest.

El Car Wash, a subsidiary of National Express Wash, acquired two Wash & Wax Express locations in Palm Beach County, Florida. The founder of Wash & Wax Express, Darrell Peterson, will join the combined company as a partner to support development and operations while the companies merge their unlimited membership programs to provide access across all locations.

MiddleGround Capital has acquired Race Winning Brands (RWB) from Kinderhook Industries; financial terms were not disclosed. RWB, headquartered in Mentor, Ohio, is a leading manufacturer and distributor of high-performance automotive and powersports engine components, and MiddleGround intends to support growth through new product development and complementary acquisitions.

Percheron Capital’s portfolio company Big Brand Tire & Service has acquired American Tire Depot, combining operations to create a leading tire and automotive service platform operating more than 160 service centers. The transaction, which is expected to close by year-end, will expand Big Brand’s footprint in California and accelerate growth through additional capital and operational resources; financial terms were not disclosed.

RV Retailer, LLC (RVR) acquired Holland RV Center (three Southern California locations) and Folsom Lake RV (Rancho Cordova) to expand its California footprint to six stores and grow its national store count to 81. The deals bring a mix of motorized and towable inventory and add service/parts capabilities in the San Diego/Palm Springs and Sacramento markets.

Mister Car Wash, Inc. (NYSE: MCW) has acquired three Express Exterior locations operated under Daddy O's Car Wash in the El Paso, Texas metro area, bringing Mister's total El Paso store count to 16. Mister will continue near-term operations at the acquired sites while rebranding and integrating the locations into its network.

Turnspire Capital Partners, through a newly formed operating company Spectra Premium Mobility Solutions, completed the acquisition of the assets of Spectra Premium Industries pursuant to CCAA and Chapter 15 proceedings. The acquisition gives Turnspire control of Spectra's North American manufacturing and distribution platform—headquartered in Boucherville, Quebec—with more than 700 employees and operations serving OEM and aftermarket automotive, heavy-duty truck and industrial markets.

TSG Consumer Partners has signed a definitive agreement to acquire a majority stake in Super Star Car Wash, a family-owned car wash operator headquartered in Phoenix, Arizona. Founder and President Reza Amirrezvani and the management team will remain significant investors and continue to lead the company as TSG supports the business’ planned geographic expansion and membership-driven growth.

KT Capital partnered with Dealer Solutions & Design’s senior management to lead a recapitalization of Duluth, Georgia‑headquartered Dealer Solutions & Design (DSD). Parkway Capital (the mezzanine affiliate of Calvert Street Investment Partners), Callodine Strategic Credit, and Pine Street Capital Partners provided subordinated debt and equity to support the transaction and fund DSD’s expansion across the United States.

FullSpeed Automotive acquired six quick-lube and automotive service centers operating as Minit Man Oil Change in the Corpus Christi, Texas market from HLS Ventures. The centers will be rebranded as Grease Monkey as part of FullSpeed's ongoing growth strategy; FullSpeed is a PE-backed franchisor/operator (owned by MidOcean Partners) expanding its footprint in Texas.

Atlanta-based Mammoth Holdings announced that Busy Bee Car Wash, a three-unit operator in Miami, has joined Mammoth as an add-on; Busy Bee owner Jim Mulholland invested in Mammoth equity and will become a Vice President focusing on Miami expansion. The deal expands Mammoth's multi-brand conveyor car wash platform and continues its partnership with PE backer Red Dog Equity.

OEConnection (OEC) has acquired Assured Performance (Assured Performance Network), a California-based provider of OEM collision-repair certification, training and repair-documentation tools. Founder Scott Biggs confirmed the sale and will retire; the acquisition expands OEC’s OEM certification capabilities and complements its recent addition of VeriFacts Automotive as OEC continues to broaden its product mix under Genstar Capital’s ownership.

Splash Car Wash, backed by Palladin Consumer Retail Partners, acquired Buckmans Car Wash, a Greater Rochester chain of four express sites. Splash will integrate the four locations into its growing New York platform (bringing Splash to 11 NY locations and 29 across the Northeast) and plans equipment upgrades, layout improvements, and optimized unlimited monthly packages.

Ouster, Inc. has completed the acquisition of Sense Photonics in an all‑stock deal (approximately 10 million Ouster shares) and established a new division, Ouster Automotive, to accelerate mass‑market adoption of solid‑state digital lidar. The transaction adds Sense's IP (100+ pending patent applications and an exclusive license to 250+ patents), ~80 global employees, and advances Ouster's automotive programs including a flagship OEM development deal and negotiations for multiple series production programs.

IAA, Inc. acquired SYNETIQ Ltd., a UK-based integrated salvage, auction and vehicle-dismantling business, in a transaction valued at £225 million. IAA paid £186 million at closing with the remaining £39 million held contingent on UK CMA approval; the CMA later cleared the deal and the remaining amount was released, expanding IAA’s footprint and capabilities in the United Kingdom.

FullSpeed Automotive completed the acquisition of three quick-lube and automotive service centers — Super Lube Service in Bolivar, Missouri and two franchised Grease Monkey centers in Savage and Eden Prairie, Minnesota — as part of a broader string of transactions. These deals bring FullSpeed's total acquisitions since the start of the third quarter to fourteen and will see the new locations rebranded under its Grease Monkey or SpeeDee Oil Change & Auto Service banners; FullSpeed is a platform company owned by MidOcean Partners.

BRS & Co., a New York-based private equity firm, has acquired Tolemar, LLC, a Huntington Beach, California-based manufacturer and supplier of branded and private-label accessories for UTVs, ATVs and motorcycles. The investment positions Tolemar to expand its product and distribution reach across direct-to-distributor and direct-to-consumer channels under brands including Trinity Racing, LA Choppers and Baron Custom Accessories.

National Auto Care (NAC) has acquired Mojo Consulting LLC, an Oklahoma City-based finance & insurance (F&I) agency serving auto, RV, and powersports dealers. The deal expands NAC's presence in the Midwest and strengthens its F&I sales and training capabilities, with Mojo's founder Adam Hawthorne remaining in an operational role.

Sonic Automotive (NYSE:SAH) acquired Bobby Ford Chrysler Dodge Jeep RAM in Sealy, Texas and will operate the location as Momentum Chrysler Dodge Jeep RAM of Sealy. The deal is Sonic’s 88th franchised dealership and marks the company’s first Chrysler Dodge Jeep RAM (CDJR) franchise, expanding its presence in Texas and broadening its brand mix.

Express Wash Concepts (EWC), a multi-brand express car wash operator based in Columbus, Ohio, acquired Zip Auto Wash located at 12611 Rockside Rd in Garfield Heights, Ohio. The acquisition expands EWC's express car wash portfolio to 46 locations and will include a planned ~$1 million upgrade and conversion to EWC's Clean Express Auto Wash brand, with temporary closure for renovations and reopening in early 2022.

All Star Auto Lights, a portfolio company of Atlantic Street Capital, has acquired Jante Wheel and Perfection Wheel to expand into the remanufactured and aftermarket wheel category. The deals broaden All Star’s replacement product offering for parts distributors, collision repair centers and direct consumers and add operational capability in wheel remanufacturing and distribution.

Sewell Automotive Companies, led by Carl Sewell and his family, acquired Classic BMW (including its MINI franchise) in Plano, Texas from the Maas family. The Presidio Group served as exclusive M&A advisor to Sewell; the acquisition expands Sewell's luxury dealership footprint in the Dallas–Fort Worth market and preserves Classic BMW's 50-year legacy and large Plano campus.

Shiloh Industries, a portfolio company of MiddleGround Capital, acquired two automotive manufacturing facilities from Benteler International located in Kalamazoo, Michigan and Goshen, Indiana. The deal is MiddleGround’s first add‑on to Shiloh and expands the platform’s hot forming, hot stamping and welding capabilities to support lightweighting efforts for automotive OEMs.

Brookfield Business Partners L.P., together with its institutional partners, agreed to acquire DexKo Global Inc. from KPS Capital Partners for $3.4 billion. DexKo, a Novi, Michigan–based manufacturer of chassis technology and trailer/RV components employing more than 6,000 people with global production and distribution footprint, was transformed under KPS via 15 acquisitions and operational improvements prior to the sale.

Group 1 Automotive, Inc. announced the acquisition of Classic Chrysler Dodge Jeep Ram of Denton and Classic Mazda of Denton, expanding its presence in the Dallas–Fort Worth market. The two stores are expected to generate approximately $150 million in annualized revenues and increase Group 1's footprint in the region.

Velocity Truck Centers (part of Velocity Vehicle Group) has acquired the Triad Freightliner group — including Triad Freightliner, Triad Freightliner of Kingsport, West Carolina Freightliner, Carolina Freightliner and H&H Freightliner — expanding VTC’s footprint into North Carolina and eastern Tennessee. The acquisition adds nine dealership locations and more than 400 employees, broadening VTC’s commercial vehicle sales, service, parts and financing capabilities in the Southeast.