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Mavis to Acquire Pep Boys, Expanding Nationwide Auto-Service Footprint

7/24/2026

23 2 Full Breakdown

Summary

Story summary

Mavis backed by BayPine, Goldman and TSG announced it will acquire Pep Boys, operating about 800 stores.
The deal adds Pep Boys sites to Mavis’s thousands of locations, expanding the national footprint.
Six private-equity-backed holding firms now own almost all major U.S. auto-service brands and retain local names.
Analysts say consolidation could improve pricing and parts availability, but may limit competition and consumer choice.

History

Historical Context

Industry consolidation began when Pennzoil bought Quaker State in 1998, creating the nation’s biggest motor-oil producer; Shell then purchased the Pennzoil-Quaker State group in 2002 for $1.8 billion in cash and $1.1 billion in debt. Today Mavis, backed by Goldman Sachs and TSG, is following that pattern by acquiring Pep Boys, adding roughly 800 locations.

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Story summary

Mavis backed by BayPine, Goldman and TSG announced it will acquire Pep Boys, operating about 800 stores.
The deal adds Pep Boys sites to Mavis’s thousands of locations, expanding the national footprint.
Six private-equity-backed holding firms now own almost all major U.S. auto-service brands and retain local names.
Analysts say consolidation could improve pricing and parts availability, but may limit competition and consumer choice.

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