Kian-Backed PARC Auto Becomes Largest Meineke Franchisee, Expands Executive Team and Enters New Markets
PARC Auto, backed by Kian Capital, has become the largest Meineke franchisee in just over a year since its formation. The company has expanded from 15 to 35 locations through new store openings and acquisitions, entering markets in Florida, Indiana, Texas, and Oregon. PARC Auto recently received the Growth Award at the annual Meineke Conference.
The company has strengthened its executive team with the addition of Russ Bowling as Chief Operating Officer, complementing the recent appointments of Don Hill as CEO and Tara Simecek as CFO. PARC Auto plans to continue its growth strategy, focusing on building density in target markets and maintaining high-quality service standards.
PARC Auto, supportata da Kian Capital, è diventata il franchising Meineke più grande in poco più di un anno dalla sua formazione. L'azienda ha espanso la sua rete da 15 a 35 sedi attraverso nuove aperture e acquisizioni, entrando in mercati come Florida, Indiana, Texas e Oregon. PARC Auto ha recentemente ricevuto il Premio per la Crescita durante la conferenza annuale di Meineke.
L'azienda ha rafforzato il suo team esecutivo con l'aggiunta di Russ Bowling come Chief Operating Officer, completando le recenti nomine di Don Hill come CEO e Tara Simecek come CFO. PARC Auto prevede di continuare la sua strategia di crescita, concentrandosi sulla costruzione di densità nei mercati target e sul mantenimento di elevati standard di servizio.
PARC Auto, respaldada por Kian Capital, se ha convertido en el franquiciado más grande de Meineke en poco más de un año desde su formación. La empresa ha expandido su red de 15 a 35 ubicaciones mediante la apertura de nuevas tiendas y adquisiciones, ingresando a mercados como Florida, Indiana, Texas y Oregón. PARC Auto recibió recientemente el Premio al Crecimiento en la conferencia anual de Meineke.
La compañía ha fortalecido su equipo ejecutivo con la inclusión de Russ Bowling como Director de Operaciones, complementando los recientes nombramientos de Don Hill como CEO y Tara Simecek como CFO. PARC Auto planea continuar su estrategia de crecimiento, enfocándose en construir densidad en los mercados objetivo y mantener altos estándares de calidad en el servicio.
Kian Capital의 지원을 받는 PARC Auto는 형성된 지 1년이 갓 넘은 시점에 가장 큰 Meineke 프랜차이즈가 되었습니다. 이 회사는 15개에서 35개 지점으로 확장되었으며, 새로운 매장 개설과 인수를 통해 플로리다, 인디애나, 텍사스, 오리건 같은 시장에 진입했습니다. PARC Auto는 최근 Meineke 연례 회의에서 성장상을 수상했습니다.
회사는 COO로 Russ Bowling을 추가하여 경영진 팀을 강화했으며, Don Hill을 CEO, Tara Simecek을 CFO로 새롭게 임명한 것과 보완적으로 작용하고 있습니다. PARC Auto는 목표 시장에서 밀도 구축 및 고품질 서비스 기준 유지를 중심으로 하는 성장 전략을 계속 추진할 계획입니다.
PARC Auto, soutenue par Kian Capital, est devenue le plus grand franchisé Meineke en un peu plus d'un an depuis sa création. L'entreprise a élargi son réseau de 15 à 35 emplacements grâce à de nouvelles ouvertures de magasins et à des acquisitions, entrant sur des marchés comme la Floride, l'Indiana, le Texas et l'Oregon. PARC Auto a récemment reçu le Prix de la Croissance lors de la conférence annuelle de Meineke.
L'entreprise a renforcé son équipe de direction avec l'ajout de Russ Bowling en tant que Directeur des opérations, complétant les récentes nominations de Don Hill en tant que PDG et de Tara Simecek en tant que CFO. PARC Auto prévoit de poursuivre sa stratégie de croissance, en se concentrant sur le renforcement de la densité dans les marchés cibles et en maintenant des normes de qualité de service élevées.
PARC Auto, unterstützt von Kian Capital, ist in etwas mehr als einem Jahr seit seiner Gründung der größte Meineke-Franchisenehmer geworden. Das Unternehmen hat seine Anzahl der Standorte von 15 auf 35 erhöht, indem es neue Filialen eröffnet und Übernahmen getätigt hat, und ist in Märkte wie Florida, Indiana, Texas und Oregon eingetreten. PARC Auto erhielt kürzlich den Wachstumsaward auf der jährlichen Meineke-Konferenz.
Das Unternehmen hat sein Führungsteam mit der Ernennung von Russ Bowling als Chief Operating Officer verstärkt, um die kürzlichen Ernennungen von Don Hill als CEO und Tara Simecek als CFO zu ergänzen. PARC Auto plant, seine Wachstumsstrategie fortzusetzen, indem es sich auf den Ausbau der Dichte in den Zielmärkten konzentriert und hohe Qualitätsstandards im Service aufrechterhält.
- Rapid expansion from 15 to 35 locations in just over a year
- Entry into attractive markets: Florida, Indiana, Texas, and Oregon
- Received Growth Award at annual Meineke Conference
- Strengthened executive team with experienced COO Russ Bowling
- Plans to pilot Meineke's electric vehicle concept in Oregon
- None.
Insights
PARC Auto's rapid expansion from 15 to 35 locations in just over a year is impressive, signaling strong growth potential in the automotive service sector. The strategic acquisitions and new store openings in key markets like Florida and Texas (two of the top four U.S. automotive markets) position the company for continued growth. However, investors should note that rapid expansion can also bring integration challenges and increased operational costs in the short term.
The addition of experienced executives, particularly a COO with a background in managing 187 retail locations, suggests a focus on operational efficiency and scalability. This could lead to improved margins and profitability as the company grows. The partnership with Driven Brands (NASDAQ: DRVN) provides a solid foundation for expansion, potentially offering synergies and brand recognition benefits.
While the Growth Award from Meineke is encouraging, investors should focus on concrete financial metrics in future reports to assess the true impact of this expansion on profitability and return on investment.
The automotive aftermarket service industry is showing signs of consolidation, with PARC Auto's rapid growth exemplifying this trend. This consolidation could lead to economies of scale and improved bargaining power with suppliers, potentially boosting profitability for larger players like PARC Auto.
The company's expansion into electric vehicle (EV) servicing in Oregon is a forward-thinking move, aligning with the growing EV market. This diversification could provide a competitive edge and tap into a high-growth segment of the automotive industry. However, the EV service market is still nascent and success will depend on effective execution and consumer adoption rates.
PARC Auto's focus on high-touch service and customer satisfaction is important in an industry where brand loyalty can significantly impact long-term success. Their strategy of building density in target markets could lead to stronger local brand recognition and operational efficiencies. Investors should monitor customer satisfaction metrics and repeat business rates as indicators of the strategy's effectiveness.
The PARC Auto platform was established in July 2023 and has since grown from 15 to 35 locations through a combination of new store openings and four strategic acquisitions. In addition to continuing operations in
As a result of the platform’s expansion, PARC Auto was recently awarded the Growth Award at the annual Meineke Conference. Meineke is part of the Driven Brands (NASDAQ: DRVN) portfolio of leading automotive services businesses, including Take 5 Oil Change, Maaco, Fix Auto
In addition to these exciting milestones, PARC Auto is pleased to announce that Russ Bowling has joined the team as Chief Operating Officer. The addition complements the company’s executive team following the January 2024 announcement that Don Hill and Tara Simecek joined as Chief Executive Officer and Chief Financial Officer, respectively. Russ has a deep background in the general automotive repair space, having previously served as the Vice President of Operations for a large Jiffy Lube franchisee, managing the business operations of 187 retail oil change, preventative maintenance and general automotive repair locations. He began his career with Pro Oil Shop Inc. Havoline Xpress Lube.
“What a year it has been — I am excited about the progress we have made in a short period of time,” shared PARC Auto CEO Don Hill. “We could not have achieved these milestones without Kian’s strategic guidance and the strong relationship we have established with Driven Brands. We’re excited to have added stores in
“We established the platform with a specific vision,” commented Kian Principal Caldwell Zimmerman. “Implementing Kian’s buy-and-build strategy coupled with the hiring of three immensely talented executives has rapidly transformed PARC Auto into the clear leader in the Meineke system. With an increasing amount of attention and investment in the sector, this is only the beginning for PARC Auto. We will continue to focus on scaling the business and providing strategic support to the team in the months ahead.”
“I am excited to be joining an established team of professionals that have created a significant amount of value in a short amount of time,” said PARC Auto COO Russ Bowling. “I look forward to bringing my expertise to better optimize company operations as we continue ahead with our goal of furthering our leadership through strategic M&A and new store openings.”
PARC Auto is actively seeking partnerships with Meineke franchisees and independent general automotive repair companies. Business owners interested in learning more should contact David Duke, Partner, Business Development at Kian, at dduke@kiancapital.com.
About PARC Auto
PARC Auto is a franchisee of Meineke Car Care Centers that provides general automotive repair and maintenance with services including oil changes, brake and suspension repair, exhaust services, tire replacement, fluid changes and more. PARC Auto currently owns and operates 35 high-performing locations across
About Kian Capital Partners
At Kian, we forge partnerships to ignite growth and build enduring value. Our goal is to provide flexible financial resources and additional operational horsepower to scale lower-middle-market businesses, realize aspirations and deliver long-term investment returns through genuine partnership. Proud to be recognized on Inc.’s Founder-Friendly Investors list for three consecutive years, Kian is a private investment firm with
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Business Inquiries
David Duke
Partner, Business Development
dduke@kiancapital.com
T 470.823.3008
Media Inquiries
Allie Gamble
MiddleM Creative (on behalf of Kian Capital)
allie@middlemcreative.com
T 704.280.1432
Source: Kian Capital Partners
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