Driven Brands Announces Acquisition of Advance Kwik Lube
Transaction expands the company’s quick lube and automotive service presence across the U.S. and Texas
CHARLOTTE, N.C. (PRWEB) June 24, 2019 - Take 5 Oil Change (Take 5), one of the largest quick lube and automotive service operators in the nation, announced its acquisition of Advance Kwik Lube, a chain of quick lube and automotive service centers with 25 total locations in Dallas/Fort Worth, Midland-Odessa, Amarillo and Lubbock, Texas.
Take 5 specializes in fast, friendly and simple drive-thru oil change services. It has achieved significant growth since being acquired by Driven Brands, the nation’s leading automotive franchisor, in 2016. Advance Kwik Lube is Driven Brands’ 27th acquisition and expands Take 5’s total footprint to 375 locations across the U.S. and extends its leadership in the state of Texas. The acquired centers will be rebranded as Take 5 Oil Change over time.
"We’re pleased to welcome Advance Kwik Lube to the Take 5 family," said Jonathan Fitzpatrick, CEO of Driven Brands. "The addition of this business continues our strategy of aggressively expanding Take 5’s differentiated automotive service platform.”
“Since opening in 1998, we’ve been incredibly proud of our business and employees and are happy to see them continue to grow with Take 5,” said Earl Erdmann, the previous owner. “We’ve been very pleased with how Take 5 has handled the acquisition and integration process, and couldn’t be happier with the outcome.”
Since affiliates of Roark Capital acquired Driven Brands in 2015, it has executed nine major acquisitions, including Advance Kwik Lube. Fueled by these acquisitions and strong organic growth, Driven Brands continues to grow across its automotive verticals, expanding the brands' footprint to nearly 2,700 locations across North America.
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, visit take5oilchange.com.
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®; Paint & Collision, housing Maaco® and CARSTAR North America®; Distribution, housing 1-800-Radiator & A/C®; and Quick Lube, housing Take 5 Oil Change. Driven Brands has nearly 2,700 centers across North America, and combined, all businesses generate more than $2.6 billion in system sales and service approximately 8 million vehicles annually. For more information, visit drivenbrands.com.
Roark focuses on investing in franchised and multi-unit businesses in the consumer and business services sectors. Since inception, affiliates of Roark have invested in 69 franchise/multi-unit brands, which collectively generate $37 billion in annual system revenues from 36,000 locations in 50 states and 81 countries. Please visit http://www.roarkcapital.com to learn more.
SOURCE Take 5 Oil Change
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