Trivest Announces Sale of Oil Changers | Business enterprise & Finance

Headquartered in Pleasanton, CA, Oil Changers is one particular of the most significant operators of oil change facilities on the West Coastline. By way of its 56 service facilities, the Company is identified by people for its practical, drive thru product, rapid provider moments, and pleasant and well-informed personnel. Founded in 1984, Oil Changers virtually doubled its spots by way of acquisitions and new keep openings given that 2018, ensuing in 2x profits advancement and nearly 3x EBITDA progress about the similar period of time. Notably, led by CEO Eric Frankenberger and its long-tenured professionals, Oil Changers recorded significant natural and organic advancement in 2020 irrespective of dealing with the problems of the Covid-19 pandemic.

Eric Frankenberger, CEO of Oil Changers, said, “The growth we’ve knowledgeable around the previous a few a long time has been nothing at all quick of remarkable and has culminated in this remarkable new partnership with Greenbriar. Very first, I’d like to thank our personnel. They demonstrate up just about every working day prepared to supply the amazing shopper company that separates Oil Changers from our competitors. Also, we would like to thank the complete workforce from Trivest. From their first investment in Oil Changers as a result of the exit approach, Trivest confirmed an remarkable dedication to investing in our organization and our men and women to assistance Oil Changers improve its likely. We would also like to thank Chris Thorpe and David Hobbs from Brick Financial investment Associates. They worked relentlessly to assistance us execute our acquisition system and block and deal with on numerous growth initiatives. Very last, but not the very least, we would like to thank Larry Read through and the founders of Oil Changers as they laid the basis to assist make us what we are right now.”

Steve Reynolds, principal at Trivest, extra, “About our a few-year financial investment period, we experienced the possibility to obtain 7 fantastic family-owned businesses, including significant dimensions, scale and diversification to the Oil Changers platform. Eric and the whole Oil Changers workforce labored tirelessly to successfully combine these acquisitions as well as speed up organic progress by way of the ‘brand refresh’ initiative and intense investments in electronic internet marketing. The team’s endeavours have produced an remarkable business, and we are happy to have had the chance to husband or wife with them.”

“Oil Changers was an fascinating financial investment for Trivest from day a single. We set out distinctive targets for each corporation prior to creating an financial investment, and the Organization exceeded each and every focus on that we set. Eric and his team do the job incredibly difficult each and every working day, and we thank them for a wonderful partnership,” claimed Trivest spouse Forest Wester.

As Trivest’s third extremely profitable recognized financial commitment in automotive aftermarket expert services, Trivest and management leveraged quite a few elements of Trivest’s prolonged-expression benefit development tactic, the “Path to 3x.” Management and Trivest outlined a Category of A single to consumers by creating the “Drive Via. Travel Happy” brand name refresh, which bundled a rework of all of its present retailers and acquired suppliers. The Firm added critical leaders in finance, operations, authentic estate and advertising and marketing to fill out the management all over Eric Frankenberger as CEO and propel the Company’s long term development. In addition to producing a powerful platform to purchase existing operators and increase their fiscal performance, the Enterprise drove regular progress in motor vehicle rely, regular ticket and profitability well higher than the sector averages.

Jefferies LLC served as the unique money advisor to Oil Changers on the sale transaction, and Akerman LLP served as Oil Changers’ and Trivest’s authorized counsel.

Proven in 1984, Oil Changers is a foremost company of oil alterations and ancillary products and services, which include fluid exchanges, gas system checks, point out inspections, and wiper blade and filter replacements. The Corporation at this time operates 56 areas throughout California’s Bay Area, Central Valley, San Diego and Riverside County and the island of Oahu in Hawaii. The Enterprise is regarded for its drive thru model where by consumers keep in their automobiles while obtaining a fast, high-quality oil provider. To master a lot more, take a look at www.oilchangers.com/

Trivest Companions LP, with offices in Miami, Los Angeles, Philadelphia, Chicago, and Toronto, is a private financial commitment company that focuses solely on the aid and expansion of founder-led and family members-owned businesses in the United States and Canada in both of those manage and non-manage transactions. Considering that its founding in 1981, Trivest has accomplished much more than 350 transactions, totaling approximately $7 billion in worth. To learn additional, go to www.trivest.com

Launched in 1999, Greenbriar is a private fairness organization running around $6 billion of complete committed money concentrated on investments in marketplace-primary expert services and manufacturing organizations. Greenbriar seems to be to identify organizations with proven management groups capitalizing on potent very long-time period advancement potential customers that can advantage from Greenbriar’s deep sectoral skills and strategic insight together with our verified operating abilities and community of senior government associations. www.greenbriarequity.com

Contact: Forest Wester and Steve Reynolds

Keyword: UNITED STATES NORTH The us CALIFORNIA FLORIDA

Market Key word: TRUCKING AUTOMOTIVE Standard AUTOMOTIVE Transport TRANSPORTATION Vacation

Supply: Trivest Companions LP

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PUB: 03/08/2021 10:00 AM/DISC: 03/08/2021 10:00 AM