RECENT RELEASESDriven Brands, Inc.
Driven Brands, Inc. (“Driven”) was a leading franchisor in the automotive aftermarket services industry and a national franchising platform in the United States. Driven’s flagship service brands included Meineke Car Care Centers (“Meineke”) and Maaco Collision Repair and Auto Painting (“Maaco”), two highly recognizable brands within the industry.
Harvest Partners Investment
In December 2011, Harvest purchased Driven with the existing management team. To fund the acquisition Harvest arranged the debt financing, which included a senior credit facility and a mezzanine note. In addition, Harvest arranged equity co-investment capital for the transaction. Harvest sold its investment in Driven Brands to Roark Capital Group in April 2015.
- Large, stable and growing automotive aftermarket services industry
- Leading franchisor with a nationwide presence
- Platform for consolidation in a highly fragmented industry
- Strong and stable cash flow characteristics
- Solid franchisee unit economics and diversified franchisee base