Type Subsidiary Net income US$ 4 million (2011) Founded 1956 Parent organization TBC Corporation | Founder Nate H. Sherman Number of locations 2 Acquisition date 2012 | |
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Revenue US$ 183.6 million (2011) Operating income Total assets US$ 215.8 million (2011) Headquarters Itasca, Illinois, United States Subsidiaries Midas New Zealand Ltd. Profiles | ||
Midas, Inc. is an American chain of automotive service centers headquartered in Itasca, Illinois. In its North American main and home market, Midas stores are company-owned or franchised. In the 17 other countries it operates in, the service centers are either licensed or franchised. Midas is one of the world’s largest providers of automotive services, offering brake, maintenance, tires, exhaust, steering and suspension services at more than 2,000 franchised, licensed and company-owned Midas shops in 13 countries, including nearly 1,300 in the United States of America and Canada. Midas also owns the SpeeDee Oil & Auto Service business, with more than 150 auto service centers in America.
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History
In April 1956, Midas, an acronym of Muffler Installation Dealers' Associated Service, was established by Nate H. Sherman and the first Midas Muffler opened that year in Macon, Georgia. The chain was originally known as Midas Muffler as they specialized in the replacement of mufflers. In recent years, they have marketed themselves as Auto Service Experts, as they are capable of performing most routine and common automobile service, including brakes, fluid changes, and suspensions. The name is derived from the king Midas and his golden touch, hence the slogan "Trust the Midas touch".
Midas was acquired by TBC Corporation in 2012.
The Golden Hand
Midas, which has been known for its ground-breaking marketing, did it again in 2013 when it launched its wise-talking Golden Hand to position Midas as an irreverently funny, yet trustworthy partner to drivers.
Slogans
Midas Man
Midas has been represented in television commercials by a fictional character and spokesman called the "Midas Man". The character has been portrayed by actor Ralph Peduto.