Greenwood Village, Colorado, January 6, 2021 – Automotive services franchisor and operator FullSpeed Automotive today announced the purchase of Connecticut based Economy Oil Change on December 22, 2020. Established in 1984, Economy Oil Change operates three Hartford area locations, including Glastonbury, Manchester, and Vernon.
“We are very excited to add Economy Oil Change to our family of 600 plus automotive centers,” said Kevin Kormondy, CEO of FullSpeed. “Economy has an impressive operation and extremely loyal customer base. This purchase was an opportunity for us to demonstrate our commitment to growth in the northeastern United States and is an outstanding complement to our existing brands,” he added.
FullSpeed Automotive was recently acquired by MidOcean Partners, a New York-based alternative asset management company.
“We are thrilled to have the Economy team become part of the FullSpeed family,” stated Gerry Gallo, one of Economy’s original owners, and longtime general manager. “The additional resources and support the company brings will help to take the organization to even higher levels,” he added.