Wynnchurch Capital LLC has completed the acquisition of Heartland Automotive Services Inc. Heartland, which will be renamed Team Car Care LLC, is one of the largest franchisees in the quick lube business and is the largest operator of Jiffy Lube service centers with approximately 523 locations. The acquisition was completed in partnership with Mid-Atlantic Lubes Inc., an existing Jiffy Lube franchisee.
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, added, “We are excited to invest in Heartland and to build on the company’s leadership position in the quick-lube retail service market. We believe that Heartland’s focus on providing customers with industry leading quality, availability and service, combined with the experience and leadership of Mid-Atlantic Lubes Inc., positions Heartland to be a strong platform for growth.”
Wynnchurch Capital is actively investing from its $1.3 billion Fund IV. In November 2017, Wynnchurch acquired America II, a global leader in electronic component distribution and supply chain services serving a broad array of products for use in higher value-add applications across diversified end-markets. Other recent Wynnchurch investments include Stampede Meat, a processor and distributor of portioned, marinated and cooked beef, chicken and other protein products for restaurants, retail, home delivery and other channels; and Rosboro Co. LLC, a leading integrated forest products operation producing a wide variety of products including laminated beams, studs, and veneer.