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Private equity-backed franchisor buys Economy Oil Change

A national franchisor purchased Economy Oil Change, which operates auto shops in Glastonbury, Manchester and Vernon, the company announced this week.
FullSpeed Automotive of Colorado, which owns more than 600 automotive centers, bought the Hartford chain as part of plans to expand in the region. FullSpeed Automotive was recently acquired by MidOcean Partners, a New York-based private equity firm.
“This purchase was an opportunity for us to demonstrate our commitment to growth in the northeastern United States and is an outstanding complement to our existing brands,” said FullSpeed CEO Kevin Kormondy.
Economy Oil Change opened its first location in 1984.
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Grease Monkey franchisor FullSpeed acquires Economy Oil Change

Grease Monkey franchisor FullSpeed acquires Economy Oil Change
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GREENWOOD VILLAGE, Colo. Grease Monkey and SpeeDee Oil Change franchisor FullSpeed Automotive acquired Manchester, Conn.-based Economy Oil Change on Dec. 22.
Economy Oil Change operates three locations, in Glastonbury, Manchester and Vernon, Conn.
We are very excited to add Economy Oil Change to our family of 600-plus automotive centers, FullSpeed CEO Kevin Kormondy said.
Economy has an impressive operation and extremely loyal customer base. This purchase was an opportunity for us to demonstrate our commitment to growth in the northeastern United States and is an outstanding complement to our existing brands, he added. ....

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