| Company Name |
Precision Auto Care, Inc. |
| Corporate Office |
748 Miller Drive, SE, Suite G-1
Leesburg, VA 20175
Toll-free: 800-438-8863
Local: 703-777-9095
Franchise Web site: www.precisiontune.com |
| Stock Trading |
Precision Auto Care, Inc. trades
under the symbol PACI. |
| Description |
Precision Auto Care, Inc. franchises Precision Tune Auto
Care centers through Precision Franchising LLC. Currently,
Precision Tune Auto Care has more than 420 independently
owned and operated computerized auto service centers providing
routine automotive maintenance and repair, throughout the
continental U.S., and around the world in Canada, China,
Dominican Republic, El Salvador, Oman, Portugal, Saudia
Arabia, Spain and Taiwan.
Franchising domestically since 1977 and internationally
since 1990, Precision Tune Auto Care today offers a one-stop-shop
specializing in diagnostics, factory scheduled maintenance
and repair services.
|
| Background |
PACI was incorporated as a Virginia
corporation in April 1997, but through predecessors has been
in the automotive maintenance services business for 30 years,
with the first Precision Tune established in 1976 in Beaumont,
Texas to provide quick, convenient and inexpensive engine
"tune-ups." Franchising of Precision Tune centers
began the next year. As automotive technology changed, Precision
Tune expanded its service menu to include oil changes, fuel
injection, air conditioning, cooling systems, brakes and other
diagnostic services. In September 1996, the Precision Tune
brand name was changed to Precision Tune Auto Care to reflect
the shift in emphasis to complete auto care.
For effective market penetration, Precision Tune Auto Care
entered into area development agreements beginning in 1979
in Orlando, FL, which grant area developers the right and
obligation to develop franchises on Precision Tune Auto Care's
behalf within specific geographic regions for stated periods
of time. Franchise agreements within the area are between
PACI and the franchisee. |
| Ownership |
PACI is the result of the November 1997 combination
of WE JAC Corporation (the owner of Precision Tune Auto Care)
and nine other automotive maintenance services companies in
connection with the initial public offering. |
| Key Management |
Chairman of The Board
Louis M. Brown (62)
President and CEO
Robert R. Falconi (51)
Chief Financial Officer
Mark P. Francis (39)
Senior Vice President, General Counsel and Corporate Secretary
Frederick F. Simmons (44)
Senior Vice President, Operational Programs and Development
John T. Wiegand (44)
Senior Vice President, Marketing
Kevin Bates (44)
Vice President, Franchise Services
Glyn Massingill (59)
Vice President, Training/Research and Development
Joel Burrows (49)
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