Automotive Acquisitions in 2022

Alimentation Couche-Tard Inc. has entered into a definitive agreement to acquire all membership interests of True Blue Car Wash LLC, an operator of express tunnel car washes under the Clean Freak and Rainstorm brands. True Blue operates 65 locations across Arizona, Texas, Illinois and Indiana, with ~170,000 subscription members and strong proximity (85% within three miles) to Circle K locations, enabling cross-promotional opportunities.

Thompson Truck Group, a division of Thompson Distribution based in Nashville, Tennessee, acquired Goodpasture Motor Company in Bristol (Virginia/Tennessee) in a transaction announced December 20, 2022. The acquisition adds an established International truck dealer to Thompson's regional holdings; members of the Goodpasture family (including Frank Goodpasture IV) will continue in leadership roles under the Thompson Truck Group umbrella.

LUV Car Wash has acquired The Autowash Group, a family-owned operator of eight car wash locations in the greater Philadelphia area, marking LUV’s entry into Eastern Pennsylvania and New Jersey. The acquisition supports LUV’s plan to grow to 20–25 locations in the region over the next 18–24 months as part of its nationwide expansion.

Workhorse Group, Inc. made a $10 million strategic lead investment in Tropos Technologies' Series B round to support Tropos' nationwide expansion and production growth. The transaction was arranged with Chicago-based Auctus Capital Partners acting as exclusive advisor, and Workhorse also entered a contract manufacturing relationship to supplement Tropos' production capacity.

LUXIT Group, a portfolio company of New Water Capital, acquired Proper Group International's Pulaski, Tennessee manufacturing operation — an 88,000 sq ft facility employing 140 people that produces polymer automotive lighting products. The acquisition expands LUXIT's U.S. manufacturing footprint and capabilities (injection molding, anti-fog/hard coating, assembly) to support growth, vertical integration, and improved service to OEM and Tier 1 customers.

Lithia Motors purchased three Denver-area luxury dealerships — Ferrari of Denver, Bentley of Denver and Lotus (Lotus of Denver) — in a transaction brokered by Pinnacle Mergers & Acquisitions. The dealerships were sold by owner Aleks Vekselberg as Lithia expands its luxury and regional retail footprint in Colorado.

AutoNation agreed to acquire RepairSmith, a Los Angeles-based full-service mobile automotive repair and maintenance provider, for $190 million to expand its after-sales and mobile-service capabilities. The deal is intended to deepen customer retention, broaden AutoNation's service channels (including at-home and on-site fleet service), and was expected to close in Q1 2023 subject to customary conditions.

CentralBDC, an SJ Partners–backed outsourced Business Development Center (BDC) for automotive dealerships, has taken a majority stake in Better Car People (BCP), an omnichannel outbound customer engagement provider for dealers. The acquisition was funded by SJ Partners with co-investment / financing from Everside Capital Partners, Northcreek Mezzanine and Resolute Capital Partners, with Enterprise Bank & Trust providing an incremental senior term loan; the deal is an add-on to expand CentralBDC's customer engagement platform and capabilities for OEMs and dealer partners.

Recochem has completed the acquisition of Torque Detail, a digitally native brand of automotive detailing products. Torque will continue to operate under its brand as part of Recochem's Car Care division and will leverage Recochem's product development, manufacturing, digital marketing, and distribution capabilities to support Recochem's expansion into the U.S. branded car care market.

Classic Collision, a national multi-site auto body repair operator based in Atlanta, announced the acquisitions of Las Vegas Collision Center (Las Vegas, NV) and Dennis Collision Center (Conroe, TX). The deals add a third Las Vegas location and expand Classic Collision's presence in Texas as the company continues to grow its network of repair facilities.

Hinduja Tech has acquired Drive System Design (DSD), an engineering consultancy specializing in electrified propulsion, driveline and transmission systems. The deal expands Hinduja Tech's eMobility and powertrain capabilities and adds DSD’s design and testing facilities in the UK and the US to HT’s global engineering platform.

Sun Auto Tire & Service, Inc. has acquired Bruce's Tire & Auto Service, a Fremont, California-based local tire specialist and repair center. The acquisition — advised by FOCUS Investment Banking for Bruce's Tire — expands Sun Auto's network to more than 350 locations and aims to retain local employees while leveraging Sun Auto's systems and purchasing power to support growth.

Aptiv PLC has acquired an 85% equity stake in Intercable Automotive Solutions from Intercable S.r.l. for €595 million. The deal brings Intercable's high-voltage power distribution and interconnect technology into Aptiv's Signal & Power Solutions segment to strengthen Aptiv's vehicle architecture and high-voltage capabilities.

McGovern Automotive Group acquired Albany-based Capital Luxury Cars, including Capital Volvo Cars of Albany and Jaguar Land Rover Albany. Haig Partners served as the exclusive sell-side advisor and the seller was dealer principal Eric Kahn, who said he is focusing on his Friendly brand stores.

WhiteWater Express Car Wash has acquired Classic Auto Spa, purchasing all three Classic Auto Spa locations in the Lafayette, Broussard and Carencro markets. The acquisition expands WhiteWater's footprint in Louisiana and brings the chain to 83 washes across six states and 12 MSAs; Classic Auto Spa employees will be onboarded and the sites rebranded to WhiteWater Express.

Ed Morse Automotive Group, led by Teddy Morse, has acquired Bruce Rossmeyer's Daytona Harley‑Davidson and the adjacent Destination Daytona complex from the Rossmeyer family. The dealership will operate as Teddy Morse's Daytona Harley‑Davidson while Destination Daytona will continue to host its existing tenants; the sale was facilitated by DCG Acquisitions and represents a family-owner exit and continuation of the site’s legacy under Ed Morse ownership.

Camping World Holdings, Inc. has acquired Ashley Outdoors, a family-owned RV dealership in Salem, Alabama. The location will operate under the Camping World brand and expands the company's retail and service footprint in Alabama as part of a broader plan to add multiple dealership locations in Q1 2024.

L Catterton's Latin America fund has entered into an agreement to make a significant growth investment in CantuStore, the leading omnichannel aftermarket tire retailer and distributor in Brazil. The capital will support customer acquisition, expansion into new tire segments, and execution of M&A opportunities to accelerate CantuStore's growth.

TRADER Corporation has agreed to acquire the Canadian operations of Dealertrack, VinSolutions, Dealer.com, Xtime and Kelley Blue Book from Cox Automotive's Canadian Retail business. The move brings Canadian-focused dealer software, digital retailing and valuation capabilities into TRADER to deliver more localized services for Canadian dealerships and OEMs; most Canadian Cox Automotive Retail employees are expected to transition to TRADER.

Funds managed by Greenbriar Equity Group completed a majority recapitalization of RANDYS Worldwide Automotive, with existing investor Tailwind Capital and management reinvesting and Tailwind retaining an equity stake. The transaction will support RANDYS' accelerated growth plans—including new technology, expanded product development, and selective add-on acquisitions—while CEO Kevin Kaestner remains in place at the company's Everett, Washington headquarters.

Kingswood Capital Management completed a growth-capital investment in Turbo Wholesale Tires, partnering with founder Sarkis Sepetjian and the Sepetjian family who retain significant ownership and join the board. The investment includes a new debt facility from Cerberus Business Finance and brings in industry executives Phillip Kane (CEO) and Larry Jeffries (President) to support accelerated growth and expanded product and service offerings.

Zero EV (Bristol, UK) and Jaunt Motors (Melbourne, Australia) have merged to form Fellten, a global manufacturer of bolt‑in electric conversion systems for classic and specialist vehicles. The combined company will scale production, establish a North American facility, and expand training and installation support for automotive workshops, restorers and specialty customers across Europe, Australia and North America.

Aramis Group SA has acquired 100% of Cazoo Trading Italy S.p.A. (to be rebranded brumbrum) from Cazoo Group Ltd/Cazoo Holdings Limited. The business sells ~1,600 used vehicles B2C annually with ~€30 million in revenues and will be integrated into Aramis Group to provide Aramis with immediate entry into the Italian market.

AutoCanada Inc. acquired Kavia Auto Body, an SGI Elite collision centre in Saskatoon, Saskatchewan, to expand its national collision centre network and better align collision services with its nearby dealerships. The facility holds multiple OEM certifications (Tesla, GM, Ford, Kia, Stellantis, Nissan, Infiniti, Genesis, Honda, Acura, Subaru, Hyundai) and will continue operating as part of AutoCanada's collision operations.

GO Car Wash, a Denver-based express car wash operator, acquired Superior Car Wash in Utica, New York, expanding its footprint in upstate New York to 16 locations from Buffalo to Utica. The former owner, Vincent Surace, will partner with GO Car Wash to help develop additional sites in the region.

AGS Automotive Solutions, a portfolio company of private equity firm 3 Rivers Capital, has acquired BrakeQuip LLC, a manufacturer of DIY hose and tube systems for automotive applications. The deal is an add-on acquisition that expands AGS's aftermarket product offering and adds OEM/high-performance customers, engineering capabilities and hose manufacturing expertise.

Fenix Parent LLC (operating as Fenix Parts) has completed its acquisition of the assets of American & Import Auto Parts in Sterling Heights, Michigan. The deal expands Fenix Parts' Midwest footprint, bringing its total to 22 full-service and 4 self-service locations and strengthening its distribution presence in the metro Detroit market.

Lithia & Driveway (LAD) has acquired Airstream Adventures, the nation’s largest Airstream dealer group, including its Ultimate Airstreams upfitting business and six retail locations across Oregon, Washington, Idaho and Northern California. The deal marks Lithia’s entrance into the luxury recreational vehicle market; Airstream Adventures founder Ted Davis and his team will join Lithia.

ZIPS Car Wash has acquired Jet Brite Car Wash, an 11-location express tunnel car wash chain based in the Chicago area (including three sites under development), marking ZIPS’ entry into the Chicagoland market and further expanding its Midwest footprint. The deal also gives ZIPS access to the Shadow Car Wash equipment line (formerly Jet Brite Systems) and increases ZIPS’ nationwide network to nearly 275 locations across its brands.

West Edge Partners, a lower middle market private equity firm, acquired Dakotaland Autoglass, a Midwest distributor and service provider of aftermarket automotive replacement glass and paint/body equipment. Financing was provided in part by First Capital Partners (subordinated debt and equity) and O2 Sponsor Finance (division of Old Second National Bank); terms were not disclosed.

Fenix Parent LLC (operating as Fenix Parts) has completed the acquisition of the assets of Reno Auto Parts, a full-service automotive recycler in Hillsboro, Ohio. The deal expands Fenix's Midwest footprint and production capacity, growing its network of full-service and self-service locations.

Raceway Car Wash has acquired WaterWorks Express Car Wash located at 12616 Imperial Highway in Norwalk, California. The acquisition expands Raceway's footprint to 39 locations across Arizona, Nevada, California and Texas and marks its ninth location in California as the company continues to grow its express and membership business.

Atlanta-based private equity firm Eagle Merchant Partners has invested in Puget Collision, a group operating 19 auto collision repair shops under the CARSTAR and Fix Auto franchise systems in the Pacific Northwest. The investment provides capital and resources to support Puget Collision's rollout and a roll-up strategy as Eagle and owner Joe Morella pursue add-on acquisitions in the region.

AEA-Bridges Impact Corp (ABIC) completed a business combination with LiveWire EV, the electric motorcycle division of Harley‑Davidson, creating publicly listed LiveWire Group, Inc. The transaction raised about $334 million in gross proceeds and LiveWire began trading on the NYSE under the ticker LVWR; Harley‑Davidson carved out the EV division as part of the deal.

TruckPro, LLC acquired Drivelines NW, Inc., a Washington-based driveline repair and parts dealer, in a transaction that closed August 31, 2022. Generational Equity advised Drivelines NW on the sale; the acquisition expands TruckPro’s heavy-duty parts and service footprint in the Pacific Northwest.

Super Star Car Wash, a TSG Consumer Partners–backed car wash operator headquartered in Phoenix, has acquired Wave Wash, an eight-location express conveyor car wash operator in the Dallas–Fort Worth Metroplex. The acquisition expands Super Star's presence in the DFW market to 17 locations and adds Wave Wash's team, facilities and development pipeline; financial terms were not disclosed.

Carlock Automotive Group, led by Clay Carlock, acquired Gulf Coast Auto Group — a portfolio of four luxury dealerships (Porsche, Audi, Volkswagen and Volvo) in Mobile, Alabama — from owner Roger Tovar. The transaction was facilitated by Performance Brokerage Services and the dealerships will remain at their current locations and be rebranded under the Carlock name.

JM Family Enterprises, through its JM&A Group division, acquired National Truck Protection (NTP) from Kinderhook Industries. NTP, headquartered in Winston-Salem, North Carolina, is a leading administrator of vehicle service contracts for used commercial vehicles and will become a division of JM&A Group to expand JM Family's F&I and protection product offerings.

GO Car Wash has acquired Wash N' Go Depot, adding three operating sites in Medford, Oregon. The deal expands GO Car Wash's west coast footprint and brings the company's total locations to 115 across eight states, supporting its strategy of platform acquisitions plus aggressive greenfield development.

Safe Fleet, a portfolio company of Oak Hill Capital Partners, has acquired Kerr Industries and its subsidiary Crown North America to expand Safe Fleet's law enforcement upfit capabilities. The deal brings Kerr's multi-location vehicle upfitting and engineering expertise into Safe Fleet's law enforcement product and service portfolio, enabling cross-selling and a larger trained installer/service network across the U.S. and Canada.

Driven Brands Holdings Inc. acquired Auto Glass Fitters to bolster its U.S. auto glass repair, replacement, and calibration capabilities, expanding its East Coast footprint and mobile service capacity. The deal further densifies Driven Brands' glass portfolio and provides Auto Glass Fitters access to shared services including data analytics, marketing, procurement, and insurance/fleet customer relationships.

Accelerated Brands, backed by Princeton Equity Group, has completed its acquisition of Trademark Car Wash and named industry veteran Miguel Prendes President of Car Wash Operations. The deal brings a developing pipeline of roughly 22 locations across New York, Tennessee, Texas, New Mexico and Arizona into the Accelerated Brands platform as the company pursues national expansion.

HARMAN International (a Samsung subsidiary) has acquired CAARESYS, an Israel-based developer of in-cabin radar sensing for passenger monitoring, vital-sign detection and Child Presence Detection (CPD). The deal brings CAARESYS' radar sensor and algorithms into HARMAN's automotive portfolio to accelerate in-vehicle safety, comfort and well-being features for automakers.

Club Car Wash has acquired eight express wash locations (plus a ninth under construction) from St. Louis-based Tidal Wave Express Car Wash, excluding three full‑service locations with convenience stores and fuel stations. The locations will be rebranded to Club Car Wash, expanding Club's St. Louis footprint to 23 sites; the transaction was completed in partnership with Wildcat Capital Management to support regional growth.

Trivest Partners and LP First Capital announced the formation of OpenRoad, a family of collision repair center brands, alongside the acquisitions of four collision repair shops: Car Crafters (Albuquerque, NM), Drury and Moss Body Shop (Amarillo, TX), 1st Choice Collision (Houston, TX), and Helotes Collision (Helotes, TX). The platform (OpenRoad) now operates multiple locations across the Southwest and will be led by CEO Tom Csekme; founders/managers of acquired shops (including Jim and Sean Guthrie of Car Crafters) are expected to remain in leadership roles.

Foundation Automotive Corp. has acquired Mercedes‑Benz of Wichita Falls, adding the Mercedes franchise as the ninth store in its Wichita Falls platform and the 36th dealership overall for Foundation Automotive. The deal expands Foundation's local footprint and brand offering in Wichita Falls, with plans to build a new Mercedes‑Benz facility in the future.

Splash Car Wash, backed by Palladin Consumer Retail Partners, acquired 4 Seasons Car Wash, a two-site operator in Liverpool, New York. One site will continue as an express wash while the other (currently self-service) will be converted to an express format; the deal expands Splash's footprint in upstate New York as part of continued development activity.

Maupin Metal, a Dallas-based custom car restoration shop founded by Brian Maupin, has acquired Brunner's Trim and Glass, a nearly 50-year-old Dallas automotive trim and glass business. The purchase expands Maupin Metal's in-house capabilities (glass, upholstery and convertible-top work), increases shop capacity with a new 15-bay garage on Garland Road, and retains Brunner's staff as the founders retire.

Sonic Automotive, a Fortune 500 automotive retailer, has acquired Audi Owings Mills in Owings Mills, Maryland. The acquisition expands Sonic's franchised network—marking its 8th Audi franchise and 112th franchised dealership—and strengthens its presence in the Baltimore metropolitan market.

All Star Auto Lights, a portfolio company of Atlantic Street Capital, has acquired Blackburn OEM Wheel Solutions, a leading U.S. distributor of new and refurbished OEM steel and alloy wheels based in Macedonia, Ohio. The deal expands All Star's capabilities beyond lighting into a newly created Wheels Division—combining Blackburn with previously acquired Jante Wheel and Perfection Wheel—and strengthens its national distribution footprint for collision shops, tire/service centers, rental car and auction customers.