AFS was formed in December, 2003 to become a multi-brand franchisor focused on the automotive aftermarket appearance and protection market via mobile delivery. The initial acquisition, AutoQual USA, Inc., was founded in late 1998. At the time of acquisition 30 franchisees were in place covering approximately 180 territories providing carpet cleaning, dyeing, repair services and floor mats to new and used car dealers, ensuring that dealer’s used car inventory appears to be “showroom new” to prospective purchasers. Since acquisition growth in franchisees has been strong; at end of 2005, 88 franchisees covering 211 territories were in place.
AFS paid back PVP debt in 2006 and bought out PVP warrants in 2008.