Greenbriar Signs Agreement to Sell Breeze Autocare to Valvoline

GREENWICH, Conn.--(BUSINESS WIRE)-- Greenbriar Equity Group, L.P. (“Greenbriar”) announced today that it has signed a definitive agreement to sell Breeze Autocare (“Breeze” or the “Company”), a nationwide operator of quick lube and related vehicle maintenance services to Valvoline, Inc. (“Valvoline”), a leading preventive automotive maintenance provider with more than 2,000 locations across the U.S. and Canada.

Founded in 1984, Breeze offers automotive quick lube, car wash, and light repair services through its differentiated “stay-in-car” model enabling quality, speed, and simplicity for its loyal customer base. Since Greenbriar’s investment in 2021, Breeze has expanded its footprint via a combination of new site developments and store acquisitions, while at the same time delivering robust organic growth. Today, the Company serves over 1.8 million customers annually.

“Greenbriar has been an exceptional partner to Breeze, providing invaluable expertise and resources as we have scaled our business, invested in our team, and expanded into new markets,” commented Eric Frankenberger, President and CEO of Breeze.

“It has been a pleasure to partner with Eric and the entire management team at Breeze,” said Matt Burke, Managing Director at Greenbriar. “Drawing on decades of industry experience, they have demonstrated a passion for growth and an unwavering commitment to operational excellence. We’re incredibly proud to have played a role in Breeze’s transformation from a successful, regionally focused player to a scaled national competitor poised for continued growth and leveraging innovative technology across all facets of its business. We are confident that Breeze’s unmatched talent and capabilities will continue to unlock value for the combined platform.”

Jefferies LLC served as lead financial advisor, Piper Sandler & Co. served as financial advisor, and Kirkland & Ellis LLP served as legal counsel to Breeze. Morgan Stanley & Co. LLC served as financial advisor and Squire Patton Boggs (US) LLP served as legal counsel to Valvoline.

About Breeze
Founded in 1984 and headquartered in Pleasanton, California, Breeze Autocare operates more than 200 locations across the United States and provides automotive quick lube, car wash, and repair services through Oil Changers (oilchangers.com), The Wash Shop (washshop.com), and Oil Changers + Repair (oilchangers.com/repair) brands. To learn more about Breeze Autocare please visit breezeautocare.com.

About Greenbriar
Greenbriar is a middle market private equity firm with 20+ years of experience investing in market-leading services and manufacturing businesses. With $10+ billion of cumulative capital commitments, its investment strategy targets businesses led by experienced management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s deep sectoral expertise, strategic insight, and operating capabilities. For more information, please visit greenbriarequity.com.

About Valvoline
Valvoline Inc. (NYSE: VVV) delivers quick, easy, trusted service at more than 2,000 franchised and company-operated service centers across the United States and Canada. The company completes more than 28 million services annually system-wide, from 15-minute stay-in-your-car oil changes to a variety of manufacturer-recommended maintenance services such as wiper replacements and tire rotations. At Valvoline Inc., it all starts with our people, including 11,000 team members who are working to grow the core business, expand the company's retail network, and plan for the vehicles of the future. For more information, visit vioc.com.

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Johanna Doherty

jdoherty@greenbriarequity.com

Source: Greenbriar Equity Group, L.P.