Winston-Salem, NC, January 27, 2026
Strickland Brothers, an automotive maintenance operator based in Winston-Salem, NC, has secured a $360 million financing deal aimed at fueling its expansion and acquisition strategies. This investment from New York firms reflects confidence in the company’s operational model and is a significant boost to the thriving entrepreneurial spirit in North Carolina. Founded in 2016, Strickland Brothers has rapidly expanded to nearly 300 locations across 27 states, showcasing the potential for small businesses to achieve national success.
Winston-Salem, NC – A significant financial development in North Carolina’s business landscape recently saw Strickland Brothers, a Winston-Salem-based quick-lube and automotive maintenance operator, secure a substantial $360 million in committed financing. This deal is set to fuel the company’s continued expansion and acquisition strategies, highlighting the robust entrepreneurial spirit thriving across the state and the powerful impact of private investment on homegrown businesses.
North Carolina Entrepreneurship Fuels National Growth
The story of Strickland Brothers is a testament to the power of entrepreneurial vision and consistent execution. Founded in 2016 by Justin Strickland, the company began its journey as an oil-change service within a Thomasville gas station. It has since grown from a regional operator in the Southeast into a national platform, boasting nearly 300 locations across 27 states as of January 2026. This remarkable expansion underscores how innovative business models, coupled with a focus on customer service, can lead to significant success, creating jobs and economic opportunities throughout communities.
The recently closed financing package was provided by New York investment firms Golub Capital and Audax Strategic Capital. This capital infusion is specifically designed to support the company’s acquisition activities and further expand its brand and national footprint. This investment reflects confidence in Strickland Brothers’ scalable operating model, which offers a convenient, drive-thru 10-minute oil change experience, emphasizing efficiency and precision.
Strategic Investment Accelerates Expansion
The $360 million committed financing marks a pivotal moment for Strickland Brothers, enabling greater flexibility to scale operations. This latest transaction follows an earlier $230 million financing agreement for Accelerated Brands, Strickland Brothers’ holding company which also owns Trademark Car Wash, secured in October 2023. This continuous flow of private capital demonstrates a strong belief in the company’s growth trajectory and its ability to execute strategic acquisitions. The involvement of private equity firms like Princeton Equity Group, which made a significant investment in Strickland Brothers in 2021, plays a crucial role in providing the resources and strategic guidance necessary for high-growth, multi-site businesses to flourish on a national scale.
The automotive service industry, traditionally fragmented with many locally owned stores, has seen consolidation in recent years. Companies like Strickland Brothers are contributing to this trend by expanding their national presence and standardizing service delivery. This growth not only benefits the company but also creates a competitive environment that encourages innovation and improved customer experiences nationwide.
North Carolina’s Thriving Automotive Sector
Strickland Brothers’ success is also indicative of North Carolina’s broader strength in the automotive sector. The state is home to over 300 automotive manufacturing establishments and has seen a 23% growth in the automotive sector since 2014. Since 2021, electric vehicle and battery component manufacturers have announced plans to invest nearly $21 billion in North Carolina, further solidifying its position as a hub for automotive innovation. This robust environment, characterized by a skilled talent pool and a business-friendly climate, makes North Carolina an attractive location for both established industry players and emerging entrepreneurial ventures.
The state’s commitment to fostering economic development, alongside a labor force that has grown by more than 9% in the last decade, contributes to a supportive ecosystem for businesses like Strickland Brothers. This economic dynamism creates a fertile ground for job creation and significant capital investment.
The Impact of Private Investment on Small Business Resilience
The ability of companies like Strickland Brothers to attract substantial private investment highlights the critical role that such capital plays in scaling small businesses into national enterprises. Private equity firms often bring not only financial resources but also operational expertise and strategic networks, helping companies navigate the complexities of rapid expansion and competitive markets. This partnership allows entrepreneurs to maintain focus on core services while leveraging external support for aggressive growth. The success of businesses like Strickland Brothers serves as an inspiring example for Charlotte small businesses and North Carolina entrepreneurs, demonstrating the potential for local innovation to achieve national recognition and success with the right support.
Looking Ahead: Continued Economic Growth in North Carolina
The significant financing secured by Strickland Brothers points to continued optimism for North Carolina’s economic growth, particularly within the automotive services sector. The expansion of such enterprises contributes directly to job creation and provides valuable services to consumers across the country. As North Carolina continues to cultivate an environment that encourages entrepreneurial innovation and facilitates access to capital, more businesses will likely follow a similar path of growth and achievement. This statewide success reinforces the notion that a supportive ecosystem for business, characterized by thoughtful policies and an emphasis on private sector strength, leads to prosperity for all.
Conclusion
The $360 million financing deal for Winston-Salem’s Strickland Brothers is a powerful illustration of entrepreneurial success and the vital role of private investment in expanding North Carolina businesses. From its humble beginnings to a national quick-lube leader, the company’s journey showcases resilience and innovation. This significant capital injection not only positions Strickland Brothers for further growth but also reflects the strong economic environment and potential for Charlotte NC business and statewide economic development. We encourage readers to continue supporting local businesses and stay engaged in the dynamic future of North Carolina’s economy, recognizing that the achievements of one often ripple out to benefit many.
Frequently Asked Questions
What is the recent financing deal for Strickland Brothers?
Strickland Brothers, headquartered in Winston-Salem, North Carolina, recently closed a $360 million committed financing deal.
Who provided the financing for Strickland Brothers?
The new financing was provided by New York investment firms Golub Capital and Audax Strategic Capital.
What is the purpose of this financing?
The financing is designed to support Strickland Brothers’ acquisition activity and enable the continued expansion of the company’s brand and national footprint.
When was Strickland Brothers founded and where is it headquartered?
Strickland Brothers was founded in 2016 and is headquartered in Winston-Salem, North Carolina.
How many locations does Strickland Brothers operate?
As of January 2026, Strickland Brothers operates or franchises nearly 300 locations across 27 states Nationwide.
What kind of services does Strickland Brothers provide?
Strickland Brothers operates and franchises drive-thru, 10-minute oil change and automotive maintenance service centers.
Which private equity firm is a portfolio company of Strickland Brothers?
Strickland Brothers is a portfolio company of Princeton Equity Group, which made a significant investment in the company in 2021.
How much has North Carolina’s automotive sector grown recently?
North Carolina’s automotive sector has seen a 23% growth since 2014, with over 300 automotive manufacturing establishments.
Key Features of Strickland Brothers’ Financing Deal
| Feature | Detail | Scope |
|---|---|---|
| Company Headquarters | Winston-Salem, North Carolina | State-level |
| Financing Amount | $360 million | Nationwide |
| Financing Providers | Golub Capital and Audax Strategic Capital (New York investment firms) | Nationwide |
| Purpose of Financing | Support acquisition activity and national expansion | Nationwide |
| Year Founded | 2016 | Nationwide |
| Number of Locations (as of Jan 2026) | Nearly 300 across 27 states | Nationwide |
| Primary Services | Drive-thru, 10-minute oil change and automotive maintenance | Nationwide |
| Private Equity Backer | Princeton Equity Group (since 2021) | Nationwide |
| North Carolina Automotive Sector Growth (since 2014) | 23% | State-level |
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