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Express Oil Change & Tire Engineers is an American Service (motor vehicle), automotive maintenance brand, with services including its signature 10 minute Motor oil, oil change, in addition to full-service mechanical, tires, brakes, and more general service offerings. The company is headquartered in Birmingham, Alabama, Birmingham, AL, where it was founded in 1979. History In 1979, Express Oil Change was founded by Jim Lunceford, opening the first store in Birmingham, AL. By 1984, Lunceford had opened a total of four locations before deciding to franchise the company. In 1996, Ricky Brooks and Joe Watson, who were the largest franchisees at the time with 14 locations, were approached by Lunceford to see if the two would be interested in buying the business. They agreed, and immediately had ownership of 25 of the 48 stores in the chain. Continued Growth & Private-Equity In 1998, Express Oil Change purchased Tune-Up Clinics – a 28-store chain based in Atlanta, Atlanta, GA, wi ...
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Private Company
A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equity, company's stock is offered, owned, traded or exchanged privately, also known as "over-the-counter (finance), over-the-counter". Related terms are unlisted organisation, unquoted company and private equity. Private companies are often less well-known than their public company, publicly traded counterparts but still have major importance in the world's economy. For example, in 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for $1.8 trillion in revenues and employed 6.2 million people, according to ''Forbes''. In general, all companies that are not owned by the government are classified as private enterprises. This definition encompasses both publ ...
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