BB&T Capital Markets Serves As Exclusive Financial Advisor to TBC Corporation in Its Sale of SpeeDee Oil Change & Auto Service to Grease Monkey International
On January 31, 2017, SpeeDee Oil Change & Auto Service (“SpeeDee”), a subsidiary of TBC Corporation (“TBC”), was acquired by Grease Monkey International. BB&T Capital Markets served as exclusive financial advisor to TBC Corporation / SpeeDee.
About the Companies
SpeeDee Oil Change & Auto Service is a franchise-based full-service automotive care company with more than 100 shops across the United States in the Gulf Coast, Texas, Mid-Atlantic, California, and New England regions.
TBC Corporation is one of North America’s largest marketers of automotive replacement tires. TBC serves wholesale customers in the United States, Canada, and Mexico through TBC Brands, Carroll Tire Company, TBC International, and TBC de Mexico. Additionally, TBC responds to the needs of consumers in search of total car care at more than 3,200 franchised and company-operated tire and automotive service centers under the brands Tire Kingdom Service Centers, Merchant's Tire & Auto Service Centers, NTB Tire & Service Centers, Big O Tires, and Midas.
Grease Monkey International, LLC is one of the largest automotive maintenance chains not owned by a major oil company, with more than 300 centers located in the United States, China, and Latin America.
BB&T Capital Markets is the leading investment bank to the automotive aftermarket. We provide unparalleled industry expertise and transaction execution throughout the entire aftermarket channel - from suppliers and distributors to retailers and professional installers - in every segment of the $300 billion industry.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.