Roark Capital Acquires Driven Brands
April 21, 2015—Roark Capital Group, an Atlanta-based private equity firm focused on franchise and consumer brands, on Friday announced that its affiliate has acquired Driven Brands.
Driven Brands manages a number of automotive companies including MAACO and Meineke Car Care Centers. Collectively, the brands generate annual system revenues of approximately $1 billion through 1,500 locations in 50 states and two countries.
Jonathan Fitzpatrick, CEO of Driven Brands, will continue to lead the business and the Company will remain headquartered in Charlotte, N.C.
“This is an exciting day for Driven Brands and our family of franchisees,” said Jonathan Fitzpatrick, Driven Brands’ CEO. “Roark Capital brings us deep experience investing in growth consumer and franchise businesses, and their understanding of the importance of the franchisor-franchisee relationship makes them the right investment partner for all of our stakeholders.”