Grismer Tire & Auto Service Names New CEO, CFO
Key Highlights
- Grismer Tire & Auto Service has named Chris Blanchette CEO and Mark Hedstrom chief financial officer.
- Blanchette brings more than 20 years of multi-site consumer services experience, including roles with Valvoline Instant Oil Change, Advance Auto Parts and Bridgestone Retail Operations.
- The appointments come months after CenterOak Partners acquired a majority stake in the 28-location Ohio dealership and outlined plans to expand Grismer in existing and new markets.
Grismer Tire & Auto Service has appointed Chris Blanchette CEO and Mark Hedstrom chief financial officer.
The appointments come nearly six months after Dallas, Texas-based private equity firm CenterOak Partners LLC completed a majority recapitalization of Dayton, Ohio-based Grismer Tire Co., which operates 28 locations in the Dayton, Cincinnati and Columbus markets.
Blanchette brings more than 20 years of senior leadership experience in multi-site consumer service businesses.
He most recently served as CEO of Service Minds, a residential electrical, plumbing and HVAC services company. He previously was chief operating officer of QAS, an operator of Valvoline Instant Oil Change locations, and held senior operational positions with Advance Auto Parts, Bridgestone Retail Operations and Best Buy.
“Chris Blanchette brings highly relevant leadership experience in the automotive aftermarket,” said Eric Holter, managing director at CenterOak. “He has led complex, multi-location organizations and understands how to translate operational discipline into sustainable growth."
Hedstrom brings more than 30 years of finance experience to Grismer. He most recently served as CFO of W.S. Connelly & Co., a multi-regional specialty distributor, and previously held CFO roles with several private equity-backed consumer and distribution businesses.
“Together, Chris and Mark add important depth to Grismer’s leadership team as the company pursues expansion in existing and new markets,” Holter said.
When CenterOak announced its investment in Grismer in April, the private equity firm said it saw an opportunity to accelerate the dealership’s growth in both its existing markets and new markets.
“Grismer’s 90-year history and the trust it has earned with customers set the company apart,” says Blanchette. “I am excited to join a business with such a strong legacy and see significant opportunity to grow the company while preserving the qualities that have made it successful.”
Grismer traces its history back more than 90 years. John Marshall, the dealership's former majority owner, represented the second generation of his family to own the business. His father, Charles “Charlie” Marshall Sr., purchased Grismer from founder Adam Grismer in 1932.
Marshall was named MTD’s Tire Dealer of the Year in 2003.
Grismer provides tire replacement, mechanical and electrical repair and preventative and scheduled maintenance services. CenterOak manages $2.5 billion in equity capital commitments and has previously invested in automotive service businesses including CollisionRight, FullSpeed Automotive and TruRoad.
