Leeds West Groups (LWG) has announced their entrance alongside The Monteverde Group into the State of Texas with eight Big O Tires locations.
The Monteverde Group and LWG have entered into a joint-equity partnership agreement for ownership of eight current Big O Tires locations in the San Antonio and Corpus Christi markets.
LWG is coming in as a pure equity partner along with a strategic infrastructure infusion, as LWG will have no day-to-day operational controls of this market. The Monteverde Group led by Christopher Monteverde will manage all pieces of the day-to-day operations as they currently do, and LWG will assume back-office infrastructure responsibility and aggressive growth funding, LWG says.
“We have made the strategic move to start investing in world class operators and we firmly believe Chris and his team are that. We believe we can enhance LWG growth avenues now across a whole new level of opportunity while leveraging our best-in-class automotive-specific office, purchasing and software infrastructure,” said Judd Kyle Shader, CEO/Board of Directors for LWG. “We have worked very hard setting up the LWG senior management team to be able to operate at a very high level with clear cut structural responsibilities in all arenas giving LWG now the ability to go after any and every multi-unit large scale deal we see fit in the aftermarket automotive repair sector nationwide. We are very proud to kick this off with what we see as an exciting and aggressive Q3 and Q4 for LWG growth in our current stores and new markets with a big addition and bang with eight Big O Tires locations in Texas and our investment into our 16th state.”
The Monteverde Group along with the Big O Tires brand entered the Texas market in January this year.
“The Big O brand is a powerful brand that we believe has huge potential in the State of Texas and beyond,” said Chris Monteverde, CEO The Monteverde Group. “The marriage of LWG now gives me and my team the ability to go after any growth opportunity nationally that I see fit for my Big O Tires team and allows us to capitalize on their automotive-specific office infrastructure, while allowing my team to deliver a high level of operational excellence.” States