New York-based Goldman Sachs Specialty Lending Group LP on March 8 completed its sale on undisclosed terms of EZ Lube LLC to Henley Pacific LA.
That’s the West Coast affiliate of Newton, Mass.-based Henley Enterprises Inc. Henley is the largest franchisee of Lexington, Ky.-based Valvoline Instant Oil Change.
The 72-unit EZ Lube chain will undergo a rebranding over the next six months, converting to Valvoline stores.
EZ Lube staged a concerted effort to turn around company fortunes a few years ago, following some negative publicity and a 2008 bankruptcy reorganization. Moves under former Chief Executive Guy Marsala included employee pay and benefits boosts and new company marketing.
—Kari Hamanaka
