MEINEKE ACQUIRED BY ITS MANAGEMENT

Meineke Car Care Centers Inc. has been acquired by its management group, funded by Carousel Capital and The Halifax Group.

Meineke had been owned by Brambles Parts Industries Corporation, a subsidiary of Australian conglomerate Brambles Industries.

"Meineke's management team is thrilled to join with Carousel Capital and The Halifax Group to purchase the company," said Meineke President Kenneth Walker. "We believe that this new ownership group will afford the company greater financial and operating flexibility and will provide opportunities for Meineke to expand and innovate."

Kenneth Doyle, principal at The Halifax Group, added, "With more vehicles on the road, an aging national vehicle fleet and projected strong industry growth in branded automotive services, Meineke is well positioned to pursue growth opportunities including the opening of new franchisee locations and the introduction of new services."

In addition to muffler services, Meineke says that they expect their leading services to be transmission flushes, air conditioning service, and cooling system service and repair.

Meineke operates 900 stores in the United States, Canada, Mexico, Guatemala, Venezuela, and the Caribbean. They are headquartered in Charlotte, NC.

Originally published in the August/September 2003 issue of Automotive Booster Magazine.
Copyright 2003 by KAL Publications Inc.