M&A Deal Summary

Driven Brands Acquires International Car Wash Group

On August 5, 2020, Driven Brands acquired consumer services company International Car Wash Group from Roark Capital Group

Acquisition Highlights
  • This is Driven Brands’ 2nd transaction in the Consumer Services sector.
  • This is Driven Brands’ 9th transaction in the United States.
  • This is Driven Brands’ 1st transaction in Colorado.

M&A Deal Summary
Date 2020-08-05
Target International Car Wash Group
Sector Consumer Services
Buyer(s) Driven Brands
Sellers(s) Roark Capital Group
Deal Type Add-on Acquisition
Advisor(s) Goldman Sachs (Financial)
White & Case
Faegre Drinker Biddle & Reath LLP (Legal)

Target

International Car Wash Group

Centennial, Colorado, United States
website
International Car Wash Group is a large local car wash conglomerate washing millions of cars across North America and Europe. The Company was established in 1965 and is headquartered in Centennial, Colorado.

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Buyer(S) 1

Buyer

Driven Brands

Charlotte, North Carolina, United States

website

Category Company
Founded 1972
Sector Franchising
Employees11,000
Revenue 2.0B USD (2022)
DESCRIPTION

Driven Brands is a parent company of automotive aftermarket brands across four distinct verticals: Repair & Maintenance, housing Meineke Car Care Centers; Paint & Collision, housing Maaco, CARSTAR, and ABRA; Distribution, housing 1-800-Radiator & A/C and Spire Supply; and Quick Lube, housing Take 5 Oil Change. Driven Brands has over 2,800 centers across North America, and combined; all businesses generate more than $2.8 billion in system sales and service approximately 8 million vehicles annually. Driven Brands was incorporated in 1972 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 12 of 18
Sector (Consumer Services) 2 of 2
Type (Add-on Acquisition) 11 of 17
State (Colorado) 1 of 1
Country (United States) 9 of 15
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-18 Clairus Group

Laval, Quebec, Canada

Clairus Group is a technology-enabled provider of replacement, repair and recalibration services for automotive glass and related advanced driver assistance systems (ADAS), serving vehicle owners, fleets, and insurance carriers. The Company currently operates 22 distribution centers and services its clientele through more than 240 in-bay service centers and 330 mobile units. Clairus Group was founded in 2017 and is based in Laval, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 Wash N’ Roll Car Wash

White House, Tennessee, United States

Formed in 2003, Wash N’ Roll Car Wash is the premier wash and go car wash service in Tennessee.

Buy -

Seller(S) 1

SELLER

Roark Capital Group

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2001
PE ASSETS 33.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Roark Capital Group is a private equity firm that focuses on middle-market investment opportunities. The Firm targets family-owned business transfers, management/corporate buyouts, recapitalizations, going-private transactions, and corporate divestitures. Roark Capital Group pursues companies with revenues between $20 million and $5 billion, and EBITDA of $10 to $500 million. Roark Capital primarily invests in consumer and business services companies, with a particular interest in the franchise, food and restaurant, specialty retail, direct marketing and financial services sectors. Roark Capital Group was formed in 2001 and is headquartered in Atlanta, Georgia.

DEAL STATS #
Overall 12 of 17
Sector (Consumer Services) 2 of 2
Type (Add-on Acquisition) 4 of 6
State (Colorado) 2 of 2
Country (United States) 12 of 16
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-20 The Cheesecake Factory

Calabasas Hills, California, United States

The Cheesecake Factory operates upscale, casual dining restaurants under The Cheesecake Factory, Grand Lux, and RockSugar Pan Asian Kitchen brands. The Company also operates bakery production facilities, which produce desserts for its restaurants, international licensees and third-party bakery customers. The Cheesecake Factory was established in 1972 and is based in Calabasas, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-17 Divisions Maintenance Group

Newport, Kentucky, United States

Divisions Maintenance Group is an integrated facility maintenance company providing maintenance services for property managers and retail clients nationwide. Divisions grew rapidly from maintaining a single location to over 250 million square feet across the U.S. Its core services are landscaping, parking lot maintenance, snow removal, plumbing, electrical, and handyman services. Divisions Maintenance Group was founded in 1999 and is based in Newport, Kentucky.

Buy -
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