Heritage Capital Group is pleased to announce that Roadrunner Express Lube has been acquired by Strickland Brothers 10 Minute Oil Change. The acquisition of Roadrunner furthers Strickland Brother’s geographic footprint in the Southeast.
Roadrunner is an independent operator of seven quick change and lube shops located across central and southern Florida. Services include full-service oil changes, transmission fluid flush & service, fuel injection cleaning, and air filter replacement. Brian Fowler, owner of Roadrunner, has over 40 years of experience in the quick lube automotive industry. In 2015, he sold 66 shops to a large conglomerate. Heritage Capital Group served as the advisor on that deal (learn more here).
Established in 2016, Strickland is a quick lube automotive service provider based out of Winston-Salem, North Carolina. In addition to drive-thru oil changes, Strickland offers emission and inspection services as well as fleet solutions. Strickland opened five stores in 2018, and an additional seven in 2019. In 2020, it started national expansion through franchising, awarding almost 50 units across over 10 states in the first six months.
The deal team was led by Scott Hanigan and included Don Wiggins, Mary Frosio, Howard Serkin, Bill Nicholson, and Stephen Rowland.
“We typically work with clients one time, as they are often preparing to exit their business and retire for good. Yet, it’s been our unique pleasure to work with Brian Fowler one more time on this transaction,” commented Scott Hanigan. “Brian has once again demonstrated his business acumen and his in-depth understanding of the quick lube automotive industry by acquiring seven distressed, low performing shops and turning them into profitable operations.”
The terms of the transaction were not disclosed. For more information about the deal, click here.
Heritage Capital Group’s sister company, Steel Beach Advisors (licensed real estate broker), executed the transaction and served as exclusive advisor to Roadrunner.