Dallas-based automotive brake services provider Just Brakes has been acquired by a team led by investor Tom Hicks. The financial terms of the acquisition deal were not disclosed, according to Dallas News.
Just Brakes has over 130 branches in eight US states. The company has around 20 stores in the Dallas-Forth Worth region and around 50 in Texas. The firm employs a total of 950 people, the report said.
Hicks and Bill Inhken, the new Chief Executive Officer (CEO) of Just Brakes, said they are eyeing the improvement and expansion of the business. Hicks also said Hicks Equity Partners, Hicks Holdings' private equity unit, hold the controlling stake in Just Brakes. Other investors in the company are Monhegan Partners of Connecticut and Gemini Investors of Massachusetts, the report stated.
Established in 1980, Just Brakes began with brakes services but later added other services. Ihnken said he will expand the company's present services even more. He is hoping to add air conditioning and safety inspections as part of their offerings, Dallas News said in its report.
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