Turning Rock Partners Invests $60 Million to Boost Main Street Auto's Expansion Plans

Turning Rock Partners Invests in Main Street Auto

Turning Rock Partners, a New York-based private investment firm, has recently announced the completion of a significant financing deal amounting to $60 million for Main Street Auto, a prominent player in the automotive aftermarket services sector. The investment aims to support Main Street Auto’s ambitious growth strategy, which revolves around acquisition and expansion.

Founded and led by Logan Leslie, Main Street Auto is headquartered in Atlanta, Georgia, and operates approximately 100 service locations throughout the southern United States. The company specializes in providing essential auto repair and maintenance services, as well as tire sales, catering to both individual vehicle owners and fleets. The inflow of capital from Turning Rock will be instrumental in implementing a buy-and-build strategy, allowing Main Street Auto to acquire additional repair locations and enhance service offerings.

According to Sha Khoja, the Head of Credit at Turning Rock, they are thrilled to support Main Street Auto in its next growth phase. Khoja emphasizes the company’s strategic position within a market that is well-suited for consolidation, highlighting the potential to gain significant efficiencies through scale. This investment reflects Turning Rock’s commitment to backing strong management teams in industries that are often underserved or facing capital constraints.

Logan Leslie, the founder and CEO of Main Street Auto, expressed gratitude for Turning Rock's support. Leslie stated, "This transaction will enable us to scale our operations significantly and expand our footprint across the southern region of the United States. It supports our ongoing acquisition strategy and positions us for sustainable long-term growth.”

Turning Rock Partners primarily targets investments in lower-middle-market businesses that are either underserved or capital-constrained, structuring tailored financing solutions to meet unique company needs across North America. This latest investment reaffirms their strategy of enabling growth and operational improvements in the sectors they choose to focus on.

The firm received strategic advice on this transaction from several trusted partners: legal services were provided by Greenberg Traurig, accounting support by Bennett Thrasher, and insurance guidance by Lockton Companies. Silver Regulatory Associates LLC and BDO contributed additional services, illustrating the collaborative effort involved in this financing deal.

As the automotive industry continues to evolve, Main Street Auto stands poised to capitalize on new opportunities for growth and expansion, thanks in no small part to the financial backing from Turning Rock Partners. The business landscape for auto repair and maintenance services remains robust, driven by an increasing demand from consumers and businesses alike for reliable automotive services. With this investment, Main Street Auto is set to enhance its capabilities and improve its service delivery while contributing to sector consolidation.