O2 Investment Partners in Bloomfield Hills has invested in and partnered with five companies to create an independent automotive service platform that will collectively operate 43 locations across Colorado, Florida, Maine, Minnesota, New Hampshire, and Wisconsin.
The new automotive service platform partnership, called Straightaway Tire & Auto, is made up of All County Automotive and Auto Care Plus in Florida, both in Florida, EAS Tire & Auto in Colorado, Victory Automotive Service in Minnesota, and Village Autoworks in Minnesota.
The partnership will help support the companies’ mergers and acquisition growth plans. Terms of the investments were not disclosed.
Straightaway’s member companies will focus on customer service and offer a comprehensive suite of services, including mechanical and electrical repair, preventative and scheduled maintenance, EV and hybrid vehicle service, glass repair, and tire sales.
“I’ve had the pleasure of knowing the other founding members for over a decade, and we are all very proud of the businesses we’ve been able to build,” says Brian Bates, founder of EAS Tire & Auto. “It was important to all of us that our investment partner recognize the value each of us operators brought to the table and also shared our vision for continued expansion. The partnership with O2 will allow us to share resources and technology, and truly turbocharge our plans for future growth.”
The leadership groups have maintained significant ownership in the platform, and each member company will continue to be led by its current management teams.
“We are beyond excited to partner with such an amazing group of operators with excellent reputations,” says Joe Vallee, a partner at O2. “We believe the Straightaway platform is well positioned to capitalize on the industry’s significant fragmentation.
“We are confident that our approach to partnering with best-in-class operators and empowering them to pursue localized mergers and acquisitions 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.”
Straightaway is the third platform investment for O2’s most recent fund, O2 Investment Partners Fund IV.
