Hancock Askew Valuation Services, LLC was pleased to act as exclusive advisor in the purchase of Savannah Tire, a Savannah-based, third-generation, family-owned premier tire and auto repair center, by Express Oil Change & Tire Engineers,  a Birmingham, Alabama based fast-lube and full-service automotive chain and franchisor and one of the leading automotive service providers in the South.

Hancock Askew Valuation Services, LLC prepared a confidential offering memorandum, identified and contacted a targeted group of potential buyers and assisted management in structuring and negotiating the transaction.  With the acquisition of the nine Savannah Tire locations, Express Oil Change is expanding their total number of stores to 242 nationwide. Although Express Oil Change has purchased the local chain of stores, the Savannah Tire name and store leadership team will remain the same.

“We are thrilled to bring the Savannah Tire team into the Express Oil Change family. They have an impressive track record of success and we are looking forward to building upon that.” said Ricky Brooks, CEO of Express Oil Change. “We are fortunate to have a very similar culture to Savannah Tire that focuses on strong customer service and long-term customer value. We will continue to grow the strong ties Savannah Tire has built in this community.”

“We are happy to put Savannah Tire in the hands of such an excellent company, one with the reputation and automotive leadership of Express Oil Change,” said Trey Cook, a member of the founding family at Savannah Tire.