Ownership, Acquisitions, and Mergers With Tommy Gaynor and Chris Garman of Sun Auto Tire & Service

Gain Traction

Chris Garman, Vice President of Business Development at Sun Auto Tire & Service, built up his family's auto service business from three to nine stores before selling to Sun Auto in 2019. He leads the company's mergers and acquisitions, significantly expanding its footprint.

Tommy Gaynor, Director of Mergers and Acquisitions at Sun Auto, joined the company after acquiring his family's successful auto repair shops. With a history in 20 groups and a deep understanding of the industry, Tommy works closely with Chris to grow Sun Auto across various markets. Together, they share a passion for auto service excellence and helping business owners transition smoothly through acquisition.

In this episode…

Are you an auto service business owner mulling over an exit strategy but wondering if you're "big enough" for acquisition? Is there a strategy that guarantees the continuity of your legacy and provides growth opportunities for your team? Could you envision a future where your hard work pays off for everyone involved?

According to Tommy Gaynor and Chris Garman of Sun Auto Tire & Service, there are significant opportunities for owners of single stores and small chains to sell their businesses to larger companies like Sun Auto. They emphasize that while major acquisitions often make headlines, they are equally interested in purchasing individual stores or smaller groups, especially if they have strong teams. Chris and Tommy stress the importance of having an exit strategy and encourage owners to start thinking about preparing their businesses for sale well in advance, even if they're not ready to sell immediately. They also highlight the value of retaining existing teams during acquisitions, viewing the employees as a crucial asset.

On this episode of Gain Traction, Chris and Tommy join host Mike Edge to delve into the intriguing world of business acquisitions within the auto service industry. They discuss their journeys from running family-owned shops to becoming drivers of Sun Auto's dynamic expansion, helping owners navigate the exit process. With a people-first strategy and a track record of employee growth and retention, Chris and Tommy highlight the win-win scenarios they strive to create in every deal.

Here’s a glimpse of what you’ll learn:

• [1:49] The origin stories of Chris Garman and Tommy Gaynor in the auto service industry
• [4:37] The process of selling an auto service business to Sun Auto
• [5:17] Chris Garman's transition from architecture management to leading a family auto business and beyond
• [8:13] The internal culture of Sun Auto and its approach to business acquisitions
• [10:48] Why showing gratitude and appreciation can pivot your business culture
• [19:22] How Sun Auto views the private equity sponsorship's role in company growth
• [22:45] The value of quality over quantity in acquisitions
• [29:00] An important experience that changed the way Tommy did business

Resources mentioned in this episode:

• Chris Garman on LinkedIn
• Tommy Gaynor on LinkedIn
• Sun Auto Tire & Service
• Mike Edge on LinkedIn
• Tread Partners

Websites:

• treadpartners.com
• tractionsummit.com

Quotable Moments:

1. "We're just trying to build a great company, and that's the bottom line." - Chris Garman
2. "You can raise the attitude with gratitude." - Tommy Gaynor
3. "All of our managers, all of our tenured service advisors, all the master technicians, all still work there." - Tommy Gaynor
4. "The biggest thing they get is opportunity." - Chris Garman
5. "The people that work for them are super valuable; they understand that they've put great people in great positions to be successful." - Chris Garman

Action Steps:

1. Develop Your Exit Strategy Early: Reflect on your current business and create a roadmap for future transitions.
   • It's important to plan ahead; knowing your endgame ensures continuity and opens opportunities for your team.
2. Create a Culture of Gratitude: Integrate genuine appreciation into your leadership style to foster a positive environment.
   • Demonstrating gratitude consistently has proven to enhance team morale and productivity, as highlighted by Tommy's example.
3. Embrace Opportunities for Learning: Always assume you can learn from others and provide learning opportunities for your Staff.
   • By acknowledging that everyone has something to teach us, we promote an atmosphere of continuous improvement and expertise sharing.
4. Equip Your Team for Growth: Place people in positions where they can succeed and grow with the company.
   • Investing in talent development leads to higher employee retention and a resilient business model, as seen at Sun Auto.
5. Build Strong Industry Relations: Maintain good relationships with peers and competitors in your field.
   • Networking and sharing insights, as Chris and Tommy practiced through their 20 groups, can lead to mutually beneficial opportunities.

Sponsor for this episode...

This episode is brought to you by Tread Partners.

At Tread Partners, we provide digital marketing for multi-location tire dealers and auto repair shops.

By using our strategy, branding, and marketing services, we help shops sell more tires and put more cars in bays.

We’ve helped companies like Action Gator Tire, Colony Tire and Service, and Ulmer’s Auto Care Center bring extreme growth in paid leads, ROI, and searches.

So, what are you waiting for?

Visit www.treadpartners.com or email [e-mail] to learn more.