Phil N. Lambert

Midas, Inc. is engaged in the business of automotive repair franchises. The company operates in a single segment with retail, real estate, supply chain and point-of-sale technology operations in support of the franchising of Midas and SpeeDee automotive service shops in North America. The company's retail operations consist of company-operated Midas and SpeeDee shops. Its real estate activities include the development, ownership and leasing of Midas and SpeeDee shops in the U.S. and Canada. The firm's supply chain activities include providing value-added merchandising services to franchisees in which the company establishes relationships with vendors who distribute products and equipment directly to Midas and SpeeDee shops. Its point-of-sale technology operations consist of the ownership, development, sale and leasing of automotive shop management software to Midas franchisees and other third-party automotive service providers. Outside of North America, the company operates on a master-franchise basis whereby the Midas and SpeeDee trademarks are licensed to master franchisees that sub-franchise Midas and SpeeDee shops in its respective territories. Midas was founded by Nate H. Sherman in 1956 and is headquartered in Itasca, IL.