O2 Investment Partners, a Midwest-based private equity firm, has invested in and partnered with All County Automotive, Auto Care Plus, EAS Tire & Auto, Victory Automotive Service and Village Autoworks and formed a new automotive service platform called Straightaway Tire & Auto.
The platform and partnership are designed to help support the companies’ organic as well as merger and acquisition (M&A) growth plans.
Terms of the investments were not disclosed; however, the leadership groups have maintained “significant ownership” in the platform and that each member company will continue to be led by its current management team.
The combined organization has 43 shops across Colorado, Florida, Maine, Minnesota, New Hampshire and Wisconsin. Straightaway’s member companies offer a range of services, including mechanical repair, preventive and scheduled maintenance, electric vehicle and hybrid vehicle work, glass repair, and tire sales.
Brian Bates, founder of EAS Tire & Auto, said the partnership with O2 allows the companies to share resources and technology in addition to turbocharge their growth plans.
“We believe the Straightaway platform is well positioned to capitalize on the industry’s significant fragmentation,” said Joe Vallee of O2. “We are confident that our approach to partnering with best-in-class operators and empowering them to pursue localized M&A will make Straightaway the partner of choice for independent auto repair businesses across the country. We are grateful to be in business with these industry leaders and look forward to building something special together.”