Greenbriar Equity has recently entered into an agreement with Leonard Green & Partners to make the private equity firm a majority investor in Sun Auto Tire & Service, Sun Auto said. Greenbriar remains a shareholder in the company.
Sun Auto said the Leonard Green team has investors experienced in the automotive aftermarket space, with many investments including Mister Car Wash and Caliber Collision. According to Sun Auto, the team grew Caliber Collision into one of the largest providers of collision repair services in the country.
“We are pleased to welcome Leonard Green & Partners as a majority Sun Auto Tire & Service investor,” said Jeffry Gardner, marketing, vice president, Sun Auto Tire & Service. “We look forward to collaborating with our new partners and continuing on the growth path we’ve established.”
Sun Auto said the Leonard Green team sees the investment as an exciting opportunity to continue to support Sun Auto’s future growth.
Concurrent to this process, Frank Kneller will step down as CEO to pursue other opportunities.
Tony Puckett, a 35-year Valvoline veteran, will join the company as CEO. Most recently, Puckett served as the head of Valvoline’s Quick Lube division where he oversaw the growth of that business from 900 to 1,500 locations. Kneller will remain with the company through the transition, Sun Auto said.