Roark Capital Portfolio Company Driven Brands Acquires Take 5 Oil Change
Latest Addition to Driven Brands Strengthens Leadership Position in Automotive Aftermarket Services Industry
CHARLOTTE, N.C. - March 30, 2016 // PRNewswire // - Driven Brands, a portfolio company of Roark Capital and the nation's leading automotive franchisor, announced today that its affiliate has acquired Louisiana-based Take 5 Oil Change. Founded in 1984, Take 5 Oil Change operates 65 quick oil change facilities across nine states throughout the Southeast. The Take 5 Oil Change management team will remain at the helm, and the headquarters will remain inNew Orleans.
With this acquisition, Driven Brands continues to expand its Quick Lube division, which also includes Pro Oil Change and Driven Florida Lubes. Take 5 CEO Marc Graham, who headed Take 5 Oil Change as CEO since 2013 and has more than 40 years of experience in the automotive aftermarket, will lead the Driven Brands Quick Lube division.
"We are actively expanding our footprint through the strategic acquisition of top-performing, complementary auto aftermarket services companies," saidJonathan Fitzpatrick, CEO of Driven Brands. "Take 5 Oil Change is an ideal addition to our portfolio of brands. They have perfected their processes and deliver industry leading customer service. Take 5 Oil Change has a phenomenal brand, operating model, and team led by Marc. We look forward to partnering and helping accelerate their growth plans."
"This is a tremendous opportunity for Take 5 Oil Change to grow our business to the next level," said Graham. "With this partnership, we have access to world-class technology, purchasing power, operational support and resources that will enable us to accelerate our growth and success."
Driven Brands manages a family of automotive companies including Maaco, Meineke Car Care Centers, CARSTAR North America, 1-800 Radiator & A/C, which collectively generate annual system revenues of more than $2.1 billion.
Take 5 Oil Change represents the 5th acquisition for Driven Brands in the year since Roark Capital acquired the business, expanding the collective brands' footprint to more than 2,000 locations in the U.S.
About Driven Brands
Driven Brands, headquartered in Charlotte, NC, is the parent company of North America's leading automotive aftermarket brands across four distinct verticals: Repair & Maintenance, housing Meineke Car Care Centers® and Merlin 200,000 Mile Shops®; Paint & Collision, housing Maaco®, CARSTAR North America® and Drive N Style®; Distribution, housing 1-800-Radiator & A/C®; and Quick Lube, housing Pro Oil Change®, Econo Lube N' Tune®, Driven Florida Lubes® and Take 5 Oil Change. Driven Brands has more than 2,000 centers across North America, and combined, all businesses generate more than $2.1 billion in system sales. For more information, visit www.DrivenBrands.com.
About Take 5 Oil Change
Take 5 Oil Change has been serving customers for more than 30 years. In 1996 Take 5 designed the first "5 Minute Drive-Thru Oil Change" location. Take 5 Oil Change is the market leader in speed and quality, and is the fastest growing quick lube chain in the country. For more information visitwww.take5oilchange.com.
About Roark Capital Group
Roark focuses on consumer and business service companies with a specialization in franchised and multi-unit business models in the retail, restaurant, consumer and business services sectors. Since inception, affiliates of Roark Capital have acquired 52 franchise/multi-unit brands, which generate $20 billion in annual system revenues from 22,000 locations in 50 states and 75 countries. Roark's current brands include Anytime Fitness, Arby's, Atkins Nutritionals, Batteries Plus Bulbs, Carl Jr.'s, Corner Bakery, Driven Brands, FOCUS Brands (the owner of Auntie Anne's Pretzels, Carvel Ice Cream, Cinnabon, McAlister's Deli, Moe's Southwest Grill, and Schlotzsky's), Hardee's, Il Fornaio, Massage Envy, Miller's Ale House, Money Mailer, Naf Naf Grill, Orangetheory Fitness, Pet Supermarket, Pet Valu, Primrose Schools, Quala, Waxing the City, and Wingstop. For more information visit www.roarkcapital.com.
SOURCE Roark Capital Group
Sr. Communications Manager