CLEVELAND, ATLANTA & PRINCETON, IL – March 3, 2016 – Lube Stop, a 49 unit quick service oil change company headquartered in Northeast Ohio, announced that it has acquired the assets of Oil Wizard, a 2 unit quick service oil change operator with locations in Princeton and Peru, Illinois.
“Oil Wizard has proudly served the Princeton and Peru markets for nearly 10 years, delivering fast, friendly and affordable automotive service to their customers. Their strong reputation and loyal customer base is what attracted us to these stores.” said Tony Cammerata, President of Lube Stop. “This acquisition, fits within the footprint of our previous 13 store acquisition in Illinois and gives us the store density to better serve the area. We are excited to have the Oil Wizard team join the Lube Stop family as we continue to expand and strengthen our brand.”
This is the second of many expected add-on acquisitions for Lube Stop since it was acquired by an affiliate of Argonne Capital Group, LLC in September 2014.
“Having operated quick lubes for over 30 years, we understand the mindset of independent operators and can give them confidence that we will continue to be good stewards of their customers and employees. It’s important for owners to know they can leave the business they have built in capable and experienced hands.” said Steve Isom, Vice President of Business Development at Lube Stop.
About Argonne Automotive, LLC dba Lube Stop
Celebrating its 31st year, Lube Stop is one of the oldest and largest privately-owned quick oil change companies in the Midwestern U.S. Following its acquisition of Oil Wizard, Lube Stop now employs over 300 people and operates 51 locations in Northeast Ohio, Northern Illinois and Eastern Iowa. Every month over 34,000 customers choose Lube Stop to provide a variety of services including oil changes, fluid exchanges, engine flushes, tire rotations and battery replacements. Every Lube Stop employee completes comprehensive in-house training and continual learning programs to ensure a great experience for every customer.
About Argonne Capital Group
Argonne Capital Group is a private investment firm focused on investments in the multi-unit restaurant, retail and service industries. The firm targets equity investments of $25 – $150 million per transaction. Argonne also has a significant presence in multi-tenant retail real estate through its RCG Ventures platform. In aggregate, Argonne and its affiliates have over $700 million of equity under management.
For more information, please visit www.argonnecapital.com
Media Contacts
For Argonne Capital Group:
Bill Weimar
(404) 364-2984