
Generational Group Advises Central Lube & Wash in its Sale to Strickland Brothers
By Generational Group
08/06/2021
Generational Group, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of our client, Central Lube & Wash to Strickland Brothers. The acquisition closed July 21, 2021.
Central Lube & Wash is comprised of two separate auto repair shops: Sco Mar LLC d/b/a Central Lube & Wash in Smithfield, North Carolina, and Citgo Quik Lube of Clayton, Inc. d/b/a Central Lube Car Care in Clayton, North Carolina (collectively known as Central Lube or “the Company”). Central Lube provides oil changes, state inspections, and vehicle maintenance services such as serpentine belt, air filter, transmission fluid, fuel filter, and fluid replacements, among other services.
Strickland Brothers is independently owned and operated and offers fast and friendly oil change services, along with a variety of preventative maintenance services for any vehicle. Drive thru oil changes, tire rotations, vehicle inspections, fleet service programs and a variety of other car maintenance services are also offered. Headquartered in Thomasville, North Carolina, the Company has multiple locations and is actively pursuing franchisees to expand the brand.
Tim Matthews, Owner of Central Lube & Wash, said “We began our journey to evaluate and or sell our business in October 2020. We associated with Generational Group shortly thereafter. We were well informed about what would take place as we maneuvered through the process. Upon deciding to move forward and sell our business we were teamed up with Genell Boyer.”
Matthews added, “Genell did an excellent job of making sure we were moving in the right direction with the correct information for us to make the many decisions presented to us along the way. Genell introduced us to several professionals who provided the proper information during the process to make critical decisions. It is hard to imagine being on the journey of selling your business without the guidance we received. Genell worked hard to keep us focused on the objective.”
“Strickland Brothers is very excited to continue to build on the amazing culture that Tim Matthews & Central Lube have built since inception. We look forward to serving the communities of Smithfield and Clayton,” stated Justin W. Strickland, CEO/President of Strickland Brothers.
Generational Group Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team led by Senior M&A Advisor, Genell Boyer, with the support of Vice President Mergers & Acquisitions, Alex Mironov, successfully closed the deal. Senior Managing Director, Doug Morrow established the initial relationship with Central Lube & Wash.
“I was amazingly impressed with Tim Matthews & Justin Strickland and their teams. They worked efficiently, and diligently and showed me that when you want to get a deal done you get it done. I am anticipating a great future for both teams!” said Boyer.
About Generational
Generational Group, headquartered in Dallas, TX, is a leading, award winning full-service M&A advisory firm. Generational has over 300 professionals across 16 offices in North America. The firm empowers business owners to unlock the full value of their companies through a comprehensive suite of services—including strategic growth consulting, exit planning education, business valuation, value enhancement strategies, M&A advisory, digital solutions, and wealth management.
Celebrating its 20th year, Generational has successfully closed over 1,700 transactions and has ranked #1 or #2 in all LSEG league tables for deals valued between $25 million and $500 million in 2022, 2023, and 2024.
The firm was named 2024 USA Investment Banking Firm of the Year by the Global M&A Network and recognized as Investment Banking Firm of the Year by The M&A Advisor in both 2024 and 2022.