Irving, TX - Heartland Automotive Services, Inc. ("Heartland" or the "Company"), a portfolio company of Sun Capital Partners and the largest operator of Jiffy Lube service centers, has been acquired by Wynnchurch Capital, LLC ("Wynnchurch"). FocalPoint Partners, LLC ("FocalPoint") served as financial advisor to the Company. Terms of the transaction were not disclosed. The acquisition was completed in partnership with Mid-Atlantic Lubes, Inc., an existing Jiffy Lube franchisee, and Heartland will be renamed Team Car Care LLC.
John Hatherly, Co-Managing Partner at Wynnchurch said, "Heartland is a tremendous addition to our portfolio of service businesses. We feel very fortunate to be partnering with Jiffy Lube International, Inc. We are also excited to partner with Mid-Atlantic Lubes, Inc. and its 10-year history of outstanding customer service delivery that will continue on with each of Heartland's guests."
Erin Murphy, Managing Director at Wynnchurch stated, "We are excited to invest in Heartland and to build on the Company's leadership position in the quick-lube retail service market. The FocalPoint team did a great job managing a complex process and we appreciate their hard work, professionalism and dedication to getting this transaction closed."
About Heartland Automotive Services
Heartland, headquartered in Irving, Texas, is the market leader in the quick oil change segment of the "Do-It-For-Me" ("DIFM") automotive aftermarket. The Company operates 523 stores across 26 states and has grown to be the largest operator and franchisee of the highly-recognizable Jiffy Lube brand. For more information, please visit heartland.jiffylube.com.
About Wynnchurch Capital
Wynnchurch Capital, LLC, headquartered in the Chicago suburb of Rosemont, Illinois, with offices in California and Canada, is a leading middle-market private equity investment firm. Wynnchurch's strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $2.2 billion of committed capital under management and specializes in recapitalizations, growth capital, and management buyouts. To learn more, visit www.wynnchurch.com.
About FocalPoint Partners, LLC
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements, financial restructurings and special situation transactions. With offices in Los Angeles and Chicago, the firm serves middle market clients throughout the U.S. and has a dedicated consumer products and services practice. For more information, please visit focalpointllc.com.
Please contact Connor Mitchell, Director, at 312-508-5776 with any questions about this transaction.