LWG Enters Into Real Estate Agreement on 17 Current ASE Division Midas Stores
Announcement for Release on: September 25th, 2020 GREENWOOD VILLAGE, CO – Leeds West Groups (LWG) has entered into a long-term agreement with SJM Realty, Inc (SJM) purchasing ownership interest into all of their 17 Midas properties held in Iowa, Illinois, Kansas, Missouri, & Oklahoma. SJM was established in 1957, and is principal owned by Steven Altheimer, the former owner and son of the founder of ASE. ASE is now a division of LWG that was purchased in 2018 from the ASE ESOP Board of Directors following their purchase of the business from Mr. Altheimer in 2001.
This deal secures the real estate of all 17 properties under the LWG umbrella in long-term leases with acquisitions of all properties spread throughout the life of each lease. The deal goes into effect on December 1, 2020, with the first acquisition of the 17 parcels of real estate completed by December 31, 2020.
“I am proud to announce the long-term security of a large portion of the ASE Midas store real estate portfolio under LWG ownership now for many years to come. This continues to show our long-term investment commitment into the ASE team for the future. The opportunity to secure over 1/3 of the ASE division real estate in one transaction, is a big win for all parties involved. I would like to thank Steve and his family in their invaluable contribution to the founding continued success of ASE.”
– Judd Shader, Chief Executive Officer
This acquisition now solidifies LWG’s real estate ownership controls for over 50% of the ASE Division real estate, and marks LWG’s 34th purchase of real estate in their automotive division within the last 24 months. The purchase prices and deal terms are not being disclosed at this time.
About Leeds West Groups
Leeds West Groups (LWG) was founded in 2009 by CEO Judd Shader and is headquartered in Greenwood Village, CO. LWG is capitalized by Family Office funds that acquires, owns, and manages national automotive repair franchise brands (Midas, Big O Tires, and SpeeDee Oil) across the continental United States including a national real estate portfolio and outside high growth investment opportunities. LWG Board of Directors is chaired by career finance and wall street executive Joshua Weinreich and currently employs 1000+ team members with 106 automotive retail locations, operating in 18 states across the continental United States.