Franchise Equity Partners forms partnership with Valvoline

Franchise Equity Partners announced a strategic partnership with Valvoline (VVV). As part of the agreement, FEP will acquire 38 of Valvoline’s company-owned stores in West Texas, including markets in Austin, San Antonio, El Paso, and surrounding regions. The stores will be franchised and operated under the newly formed entity, Velocity Auto Care. FEP has assembled a leadership team to run the business. Robert Fish, CEO of Velocity Auto Care, brings extensive experience in franchise operations, including leading franchise portfolios with brands such as European Wax Center and Massage Envy. He will be supported by Ashish Chapagain, CFO, and Spencer Mason, VP of Operations. Tim Miller, former CFO of TBC Corporation, will join Velocity Auto Care’s Board of Directors as Chairman, along with former Valvoline Inc. Chief Commercial & Marketing Officer, Heidi Matheys.