Harris Williams & Co has advised Driven Brands, a portfolio company of Harvest Partners, to affiliates of Roark Capital Group (Roark).
Through its two iconic brands, Maaco and Meineke, Driven Brands is one of the largest franchise platforms in the automotive aftermarket services sector. The transaction was led by Joe Conner, Jason Bass and Jershon Jones of Harris Williams & Co.’s Transportation and Logistics (T&L) Group and Chris Williams and Jonathan Meredith of the firm’s Richmond office.
“Driven Brands’ best-in-class management team has built an exceptional franchising platform that is highly regarded across the industry,” says Joe Conner, a managing director at Harris Williams & Co. “It is through partnerships with premier clients like Driven Brands that the firm has been able to build one of the leading middle market sell-side platforms in the automotive aftermarket.”
“We are very proud to have worked with both Driven Brands and Harvest Partners on this transaction,” says Jason Bass, a managing director at Harris Williams & Co. “Roark will be a great new partner for Driven Brands that will continue to support the management team and accelerate growth in the coming years.”
“After our recent success with Caliber Collision Centers, ABRA, Mister Car Wash and Dent Wizard, the sale of Driven Brands represents another marquee transaction for Harris Williams & Co in the automotive aftermarket services sector,” says Jershon Jones, a director at Harris Williams & Co. “This transaction is another example of the firm’s T&L Group leveraging deep sector expertise for its clients. Given the strong M&A environment and momentum in the automotive aftermarket, the firm expects to continue seeing high levels of activity in the sector.”
Driven Brands, headquartered in Charlotte, North Carolina, is a leading franchise platform in the automotive aftermarket services industry. Driven Brands offers a comprehensive suite of both paint and collision and repair and maintenance services through over 1,500 stores across North America. Both founded in 1972, the Maaco and Meineke brands span 40+ years and are highly regarded throughout the automotive industry as pioneers.
