Leeds West Groups is investing in a fellow Big O Tires franchisee’s efforts to expand the brand in Texas. Leeds West Groups will serve as an equity partner to Christopher Monteverde, who earlier this year bought eight stores and converted them to Big O Tires stores.
The stores are located in the San Antonio and Corpus Christi markets.
In a press release from Leeds West Groups, the Colorado-based company says it will act as “a pure equity partner along with a strategic infrastructure infusion” and “will have no day-to-day operational controls of this market.”
The Monteverde Group will manage day-to-day operations, and Leeds West Groups (LWG) will assume “back office infrastructure responsibility and aggressive growth funding.”
“We have made the strategic move to start investing in world class operators and we firmly believe Chris and his team are that,” says Judd Kyle Shader, CEO of the board of Leeds West Groups. “We believe we can enhance LWG growth avenues now across a whole new level of opportunity while leveraging our best in class automotive specific office, purchasing, and software infrastructure. All alongside LWG current aggressive growth strategies in our current stores and current marketplaces.
“We have worked very hard setting up the LWG senior management team to be able to operate at a very high level with clear cut structural responsibilities in all arenas giving LWG the ability to go after any and every multi-unit large scale deal we see fit in the aftermarket automotive repair sector nationwide.
“We are very proud to kick this off with what we see as an exciting and aggressive third quarter and fourth quarter for LWG growth in our current stores and new markets with a big addition and bang with eight Big O Tires locations in Texas and our investment into our 16th state.”
Monteverde, who was named the 2018 Franchisee of the Year by the International Franchise Association and the 2017 Franchisee of the Year by Big O Tires, bought the eight Texas stores from TBC Corp. in January 2019. They previously operated under the NTB Tire & Service Center brand. He also owns 16 Big O Tires stores in California.
Monteverde says, “The Big O brand is a powerful brand that we believe has huge potential in the state of Texas and beyond. The marriage of LWG now gives me and my team the ability to go after any growth opportunity nationally that I see fit for my Big O Tires team, and allows us to capitalize on their automotive specific office infrastructure, while allowing my team to deliver a high level of operational excellence.”
Leeds West Groups operates 94 stores in 16 states.