Carousel Capital announced today that its portfolio company, Southeastern Automotive Aftermarket Service Holdings (“SAASH” or the “Company”), comprised of Express Oil Change & Tire Engineers, has continued to aggressively expand its footprint. This expansion has occurred through organic growth of new corporate and franchised locations as well as a continuation of the Company’s acquisition plan to become one of the largest tire retailers in the country. This strategy has resulted in multiple acquisitions being completed over the past year of individual operations encompassing as few as one location and as many as ten locations. SAASH has expanded with a particular emphasis in the tire segment as it continues to augment its complete car care service offering. The successful growth in the tire segment was recognized in May 2016 when the Company was admitted as a member of Tire Alliance Groupe, whose 16 member organizations are among the largest tire retailers in the U.S. and represent over 2,500 retail locations.
Express Oil Change & Tire Engineers comprises more than 260 service locations providing a unique service offering for its customers. Unlike traditional specialty shops which cannot typically meet all vehicle service requirements, Express Oil Change & Tire Engineers combines quick oil change services with dealership quality mechanical and tire services resulting in added customer convenience. This allows the Company to produce among the highest revenue and profit per unit results in the industry. The Company is known for the high levels of customer service and convenience, strong customer loyalty, career opportunities for its employees, successful franchisees and industry leading company owned location performance.
Carousel Capital is a private investment firm that invests in companies located in the Southeastern United States. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs with significant operating experience. Since its inception, Carousel has invested in 35 companies primarily in three targeted growth sectors: business services; consumer services; and healthcare services.