Jack Hollis, a former top executive with Toyota North America, has joined Accrual Equity Partners as managing partner.

AEP, a private equity firm focused on the automotive services and retail sector, said Hollis will focus on expanding the firm’s presence and its investment, acquisition and partnership opportunities throughout the sector, including dealerships, automotive services and essential consumer and commercial service-related businesses.

“Adding a respected and experienced industry leader of the caliber and with the reputation of Jack Hollis is a milestone for Accrual Equity Partners that reflects our unique strategy and bold ambitions, our talented and capable team, and the meaningful growth potential and untapped economic value we see ahead,” founder and managing partner Jacob Tilzer said. “We are excited and thrilled to have Jack join our team and we are eager to partner with him to identify investment, partnership and other growth opportunities.

“Adding Jack also demonstrates our commitment to creating a world-class leadership team. Our values align, and we are committed to serving our employees, clients and communities.”

Hollis most recently served as Toyota North America’s executive vice president and chief operating officer, the culmination of a 33-year career with the automaker in which he served in numerous leadership positions. He was responsible for leading sales, marketing, supply chain, manufacturing, distribution and product planning for the Toyota and Lexus brands in the North American market.

Hollis retired from Toyota in January.

“When I met the Accrual Equity Partners team, I immediately connected with their people-first purpose of creating phenomenal value and outcomes for businesses, founders, owners and investors,” he said. “It is important for me to help transform industries, assist entrepreneurs in achieving their dreams, and, most important, leave a lasting impact.

“After proudly spending three-plus decades with Toyota, I naturally wanted to be thoughtful about my next chapter and considered opportunities in manufacturing, large public and private retail automotive groups, operations and private equity, as well as ministry, government and professional sports. Ultimately, I was most excited about my seamless fit personally and professionally with AEP’s impressive and experienced team, collaborative culture and the many opportunities to make a positive impact for businesses and the people who built them.”

AEP founder and managing partner Brady Schmidt said he’s been friends with Hollis since they met at a charity event in 2022 and is eager to work with him.

“The moment I heard the news that Jack had retired from Toyota, I knew I wanted him to join us at Accrual Equity Partners,” Schmidt said. “In spite of some very significant opportunities available to Jack it became clear that we were aligned in both our personal and professional visions. … His people-centered, character-driven leadership and his exceptional skill sets will be integral to helping us and all of our partners and stakeholders achieve and exceed our goals.”

AEP partners with companies with revenue of $5 million to $100 million, often founder-led, in fragmented sectors that offer non-discretionary services to businesses and consumers. The company said its leadership team and portfolio companies have completed $16 billion in financial services transactions, acquired or sold more than 3,000 companies, achieved more than 500,000 vehicle sales and 2 million vehicles serviced, and closed $3.6 billion in commercial real estate sales.