Valvoline Inc., the quick, easy, trusted leader in preventive automotive maintenance, announces it intends to refranchise 38 existing Valvoline Instant Oil Change service centers to a new franchisee, Velocity Auto Care. The service centers are located in Austin, San Antonio, El Paso and west Texas.
“One of our strategic priorities is accelerating our network growth,” said Lori Flees, Valvoline Inc. President and Chief Executive Officer. “We are pleased to have franchisees that can expand select markets more rapidly than the company was planning. More service centers, whether owned and operated by the company or a franchise, deliver more convenience for our customers, more opportunities for our team members, and more value to our shareholders. We look forward to many years of outstanding partnership with our newest franchisee, Velocity Auto Care.
The new franchise partner, Velocity Auto Care, is a wholly owned portfolio company of Franchise Equity Partners which owns a portfolio of 10 different franchise companies operating quick-service restaurants, residential home services, auto dealerships, and more. In total, Franchise Equity Partners operates more than 750 storefronts across 33 states.
“We are excited to join the Valvoline Instant Oil Change franchise,” said Mike Esposito, Co-Founding and Managing Partner of Franchise Equity Partners. “Valvoline Inc. is a brand Americans have known for generations, and everyone at Velocity Auto Care is committed to continue delivering the quick, easy, trusted service that customers of central and west Texas appreciate and depend on.”
This transaction will be the third refranchising initiative by Valvoline Inc. The company completed two transactions in fiscal year 2024, converting a total of 28 company stores to franchise in the growing markets of Las Vegas and Denver. Footprint Capital is serving as financial advisor to the company.
About Valvoline Inc.
Valvoline Inc. (NYSE: VVV) delivers quick, easy, trusted service at more than 2,000 franchised and company- operated service centers across the United States and Canada. The company completes more than 28 million services annually system-wide, from 15-minute stay-in-your-car oil changes to a variety of manufacturer- recommended maintenance services such as wiper replacements and tire rotations. At Valvoline Inc., it all starts with our people, including more than 11,000 team members who are working to grow the core business, expand the company’s retail network, and plan for the vehicles of the future. For more information, visit vioc.com.
About Franchise Equity Partners:
Franchise Equity Partners is a private investment firm specializing in providing capital to franchise businesses and their owners. Its differentiated approach combines extensive corporate finance and operating experience with an initial target portfolio size of $1 billion to enable growth, ownership simplification, succession and estate planning, among other strategic business opportunities. To learn more about Franchise Equity Partners, please visit www.fep-us.com or follow the firm on LinkedIn.
