Valvoline expands in Texas with Franchise Equity Partners deal
Franchise Equity Partners (FEP), a private investment firm, has entered into a strategic partnership with Valvoline Inc. to accelerate the growth of Valvoline’s footprint across Central and West Texas. This collaboration marks a significant step in both companies’ growth strategies, focusing on long-term partnerships and operational excellence in the automotive maintenance sector.
Under the agreement, FEP will acquire 38 of Valvoline’s company-owned stores in key Texas markets, including Austin, San Antonio, El Paso, and surrounding regions. These locations will be franchised under a new entity, Velocity Auto Care, which aims to deliver trusted and convenient preventive automotive services.
Leadership and vision
Robert Fish, CEO of Velocity Auto Care, leads a high-calibre team, bringing extensive experience in franchise operations. Fish has successfully managed franchises like European Wax Center and Massage Envy. Supporting him are Ashish Chapagain as CFO and Spencer Mason as VP of Operations. The Board of Directors includes industry veterans such as Tim Miller, former CFO of TBC Corporation, and Heidi Matheys, former chief commercial and marketing officer at Valvoline.
“We’ve built a strong leadership team that will drive the growth of the Valvoline Instant Oil Change brand across Central and West Texas,” Fish said.
Valvoline CEO Lori Flees echoed the sentiment, stating, “FEP’s operational expertise and ability to scale align perfectly with Valvoline’s strategy to strengthen our brand presence and deliver excellent service to our customers.”
Strategic implications
This acquisition underscores FEP’s mission to partner with leading brands and create scalable, sustainable franchise models. It also highlights Valvoline’s commitment to leveraging strategic partnerships to expand its retail network and deliver high-quality, accessible automotive care.
Mike Esposito, co-founding partner of FEP, described the deal as a reflection of FEP’s vision. “Partnering with Valvoline demonstrates our ability to identify and execute exceptional growth opportunities while building businesses that can scale sustainably,” he said.
About the companies
Franchise Equity Partners: With USD1 billion in committed capital, FEP specialises in empowering franchise businesses through growth, ownership restructuring, and succession planning.
Valvoline Inc.: Operating more than 2,000 service centres across North America, Valvoline is a leader in preventive automotive maintenance, handling more than 28 million services annually.
