February 25, 2024

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GreatWater acquires Tire Tracks as section of acquiring spree

3 min read

HUDSONVILLE, Mich. — Dytech Auto Team Inc., d.b.a. GreatWater 360 Vehicle Treatment, has been on an acquisition spree the final pair of yrs, using over practically 90 impartial car services spots in the Midwest.

You probably have not found the names shifting on these acquired retailers in Michigan, Wisconsin, Illinois, Indiana and Ohio. Which is due to the fact, as opposed to lots of important merger/acquisition players, GreatWater claimed it will make a issue of retaining the specific businesses’ identities — and their legacies.

The business has been attaining one- and multi-location businesses in a range of marketplaces. The company’s greatest acquisition so significantly, by keep rely, happened in December when it acquired Tire Tracks United states, a Bradley, Sick.-centered dealership with 14 outlets and a warehouse in northern Illinois.

The dealership signage is even now emblazoned with the Tire Tracks title but will add, in smaller print, “a GreatWater garage.”

“Our aim and our approach is to in no way modify the name,” GreatWater COO Scott Kear advised Tire Business.

“We in no way go into an acquisition with the intention of modifying the name. That is the previous issue we want to do. We are buying these outlets since they’re certainly well-run outlets. They are in neighborhoods we adore to be in. They have a potent track record. Why would we want to consider that absent?”

Given that February 2021, GreatWater has grown to 96 locations just after starting with 7 Dykstra Vehicle stores in the Grand Rapids, Mich., marketplace.

In 2003, GreatWater CEO and vast majority operator Jim Dykstra bought the auto assistance dealership his father Richard had launched in 1984. Just after increasing the dealership, he established Dytech to receive other vehicle provider organizations wherever the entrepreneurs did not have a succession or exit strategy.

The acquisitions went whole throttle in 2021, when Dytech bought 50 spots, which includes Rockford, Ill.-dependent Butitta Brothers Automotive with 14 locations in 2022 it acquired a different 44 retailers.

So considerably this 12 months, Dytech has additional two extra: Trans Operates Transmissions L.L.C. in Portage, Wis., and Farnsworth Automobile Moreover in Aurora, Unwell.

About six months back, Dytech resolved to current market by itself as GreatWater 360 Vehicle Treatment to improved resonate with buyers on what the firm does, Kear mentioned.

“As we get all these shops, we have to affiliate them someway. And obviously that GreatWater symbol we hope is heading to enable.”

GreatWater options to proceed obtaining outlets this yr but has no specific focus on variety or markets, Kear said.

“We’re not concentrating on demographic spots, we are concentrating on stable legacy community stores that want an exit strategy. We want to purchase at the suitable rate where we can continue on to be successful and proceed to provide people communities the right way. Is that 30 outlets this yr? I do not know. Is it 60 retailers? I never know, since we don’t know what the year holds. …We want to do it the right way, not the quickly way,” Kear claimed.

He mentioned the enterprise has the funds for all these acquisitions thanks to the enable of investors and the point it is buying effective companies.

“At end of working day we are purchasing pretty worthwhile stores. We arrive in and hope to make them more successful.”

Two several years ago, the enterprise was executing all the pursuing of probable retailers to acquire.

“As we have grown from 7 outlets to 96 in in essence 24 months, the term receives out there. So we’re starting off to see far more and a lot more individuals strategy us,” Kear reported, noting that numerous of the proprietors who marketed their enterprises are now referring GreatWater to other shop owners.

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