Largest Single Midas Acquisition By A Midas Franchisee Is In The Works

Leeds West Groups (Greenwood Village, CO) — a platform capitalized by private equity funds that acquires, owns and manages automotive repair franchise brands — has entered into an agreement to acquire Auto Systems Experts, an employee-owned company based out of Davenport, IA that operates 42 Midas locations across six Midwestern states.

The deal includes all of Auto Systems Experts’ locations, real estate holdings, buildings and equipment. Financial terms of the transaction were not disclosed. It’s believed to be the largest acquisition of a Midas franchisee in Midas history.

Alan Mahrt, the former president of Auto Systems Experts, will serve as chief operating officer of this new division of Leeds West Groups.

The Auto Systems Experts acquisition boosts Leeds West Groups’ holdings to 97 Midas, Big O Tires and SpeeDee Oil Change & Auto Service locations across 15 states.

In conjunction with the transaction, Leeds West Groups has named current director Joshua Weinreich as chairman of the board. Weinreich is the former global head of hedge funds for Deutsche Bank and CEO of Deutsche Asset Management.

Additionally, David Byron Smith Jr. has joined the board. Smith is the executive vice president of policy and legal affairs and general counsel for the Mutual Fund Directors Forum in Washington, DC.