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EZ Lube Founders Build Chain in Southern California; Eyeing Other States
Rick Teasta and Mike Dobson have been business partners for 19 years and buddies for longer.
The duo, owners of Santa Ana-based oil change business EZ Lube Inc., won a Business Journal Excellence in Entrepreneurship Award last week. The awards luncheon was held at the Hyatt Regency in Irvine.
EZ Lube is set to soon open a store in Camarillo, its 80th overall. The company posts annual sales of more than $90 million.
Dobson and Teasta split duties at EZ Lube. Dobson has the president's title and handles' accounting and real estate.
Teasta is chief executive. He deals with marketing, workers and operations. Both share strategic planning duties.
The owners have been in expansion mode, targeting Florida, Texas, Arizona and Nevada for growth. Most EZ Lube locations are in Southern California.
To help fund the company's expansion, Teasta and Dobson turned to the big-hitters. The owners recently sold a large stake in EZ Lube to a group of investors, including New York-based hedge fund GSO Capital Partners and Goldman Sachs Specialty Lending Group LP.
While there are thoughts for an...