Burns & Levinson today announced that it represented Wynnchurch Capital, LLC (“Wynnchurch”), a leading private equity firm, in its acquisition of Heartland Automotive Services, Inc., one of the largest franchisees in the quick lube business and the largest operator of Jiffy Lube service centers with approximately 523 locations in 26 states. The acquisition of Heartland, which will be renamed Team Car Care, LLC, was completed in partnership with Mid-Atlantic Lubes, Inc., an existing Jiffy Lube franchisee. The deal closed February 26, 2018.
The Burns & Levinson deal team was led by partner Frank A. Segall, Chair of the firm’s Business and Finance Law Group, along with corporate law partner Mark Manning.
“This was an intricate deal involving complicated corporate structuring, financing, tax, real estate, insurance, and operational issues. It was a privilege to work side by side with the Wynnchurch team to navigate many challenges and devise successful solutions to get this important deal closed,” said Frank A. Segall. “We were impressed with Wynnchurch every step of the way, and their ability to resolve a myriad of business issues and keep diverse parties on track. We look forward to working with them on future deals,” added Mark Manning.
“We are excited to invest in Heartland and to build on the company's leadership position in the quick-lube retail service market,” said Erin Murphy, Managing Director at Wynnchurch. “Burns & Levinson was an invaluable partner throughout a long, complex process. They brought their best resources to the table, and their depth and breadth of knowledge across a multitude of business, financing, tax, and legal issues was pivotal to a successful closing.”
Wynnchurch Capital is actively investing from its $1.3 billion Fund IV. In October 2017, Wynnchurch acquired America II, a global leader in electronic component distribution and supply chain services serving a broad array of products for use in higher value-add applications across diversified end-markets. Other recent Wynnchurch investments include Stampede Meat, a processor and distributor of portioned, marinated and cooked beef, chicken, and other protein products for restaurants, retail, home delivery and other channels; and Rosboro Company, LLC, a leading integrated forest products operation producing a wide variety of products including laminated beams, studs, and veneer.
Wynnchurch Capital, LLC, headquartered in the Chicago suburb of Rosemont, Illinois, with offices in California and Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch's strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $2.2 billion of committed capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit: www.wynnchurch.com.