Auto-Lab has a new investor: LV2 Equity Partners, a Michigan-based private equity group. The company and LV2 have formed a new entity, Auto-Lab LLC, to purchase the assets of the predecessor company Auto-Lab Franchise Management Corp. The new company is co-owned by LV2 and Auto-Lab.
John Pollock, managing director of LV2, said the company plans to aggressively grow Auto-Lab “in the near future” with the addition of company-owned Auto-Lab Complete Car Care Centers, as well as expanding the number of franchises. Auto-Lab franchises operate in Michigan, Illinois, Indiana, Iowa, Florida and California.
Frank Brandenberg, CEO of Auto-Lab, said this new partnership marks a major milestone for his company. “We have successfully developed a quality franchise offering in six states,” Brandenberg said. “With LV2 as our partner, we can now build upon our base by aggressively expanding our business and offering additional programs to support our franchisees.”