Straightaway Tire & Auto Announces Appointment of John Teddy as CEO
May 2024
Bloomfield Hills, Michigan
O2 Investment Partners (www.o2investment.com) is pleased to announce that Straightaway Tire & Auto (www.gostraightaway.com), a leading independent, full-service aftermarket automotive repair and service platform, has appointed John Teddy as its Chief Executive Officer.
Mr. Teddy joins Straightaway with over 15 years of experience at industry-leading consumer retail & services brands. Most recently, he was the President of Take 5 Car Wash, the second largest car wash platform in the US and a division of Driven Brands. During his time at Driven Brands, he also served as Chief Commercial Officer and held multiple senior leadership positions within Take 5 Oil Change. During these periods, he oversaw significant revenue and unit count growth via both M&A and greenfield initiatives. Mr. Teddy also spent a number of years in strategic roles in the home improvement industry at both The Home Depot and Lowe’s, where he orchestrated various corporate strategy, M&A, and performance improvement initiatives that helped drive strong market share gains and profitability growth.
“I am incredibly excited to join such a distinctive concept within independent automotive repair,” John commented. “Straightaway is a truly unique home for founder-led brands, supported by the benefits of a world class platform, and powered by our incredible front-line associates. It’s an honor to serve this team as we continue to accelerate our growth.”
Joe Vallee at O2 commented, “We are ecstatic to welcome John to the Straightaway family with open arms. He is a proven leader with considerable experience scaling auto service businesses and will be instrumental to our next phase of growth. His addition underscores our commitment to build a platform with best-in-class resources that empower our industry-leading local operators. This marks yet another step toward building something special in the industry.”
About Straightaway Tire & Auto:
Straightaway Tire & Auto is a leading independent, full-service aftermarket automotive repair and service platform with over 50 locations across Colorado, Florida, Maine, Massachusetts, Minnesota, New Hampshire, and Wisconsin. Straightaway offers a comprehensive suite of services, including mechanical and electrical repair, preventative and scheduled maintenance, EV and hybrid vehicle service, glass repair, and tire sales. Straightaway is growing its footprint throughout the United States and is actively engaging in partnership discussions with operators looking to accelerate growth.
About O2 Investment Partners:
O2 Investment Partners is a Midwestern based private equity firm that seeks to invest in lower middle market B2B services, technology, and select industrial companies. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. O2 invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management.
Additional information is available at www.o2investment.com ; www.gostraightaway.com