Strickland Brothers — a national operator and franchisor of drive-thru, 10-minute oil change and automotive service centers, with nearly 300 shops across 27 states — has received $360 million in committed financing.
The funds provided by Golub Capital and Audax Strategic Capital (ASC) is intended to support acquisitions and enable continued expansion of Strickland’s brand and national footprint.
Headquartered in Winston-Salem, NC, Strickland Brothers is a portfolio company of the Princeton Equity Group, a private equity firm.
“This financing gives us added flexibility to continue scaling the business while remaining focused on providing a world-class customer experience,” said Justin Strickland, founder and CEO of Strickland Brothers. “With Princeton’s continued support and experienced capital partners alongside us, we’re well-positioned for the next phase of growth.”
Phil Piro, a partner at Princeton, stated: “This transaction provides significant runway to execute on strategic acquisitions and brings two capital partners with deep experience investing behind multi-site automotive services companies.”
Golub is a private credit manager with over $90 billion in capital under management, specializing in providing flexible financing to companies backed by private equity sponsors.
ASC — which provides customized, mid-hold equity for private equity-backed companies — is part of the Audax Private Equity platform, a capital partner to middle market companies with $19 billion in assets under management.
Piper Sandler & Co. advised Strickland Brothers.
