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Roark Capital scoops up Driven Brands
Franchise-focused private equity firm adds Driven Brands to list of acquisitions.
Things are revving up in the automotive franchise world.
Roark Capital recently announced the acquisition of Driven Brands, a franchise automotive company, from Harvest Partners. Driven Brands' Jonathan Fitzpatrick is set to remain as company CEO.
“This is an exciting day for Driven Brands and our family of franchisees,” Fitzpatrick said in a statement. “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.”
Roark Capital has acquired 42 multi-unit brands generating annual system revenues of nearly $17 billion. Meanwhile, Driven Brands manages numerous auto companies, pulling in annual system revenues of approximately $1 billion.
“We are very excited to welcome Driven Brands to the Roark Capital family,” said Neal Aronson, managing partner of Roark Capital. “We have great admiration for the franchisees who have made these iconic brands so successful, and are thrilled to contribute to their future growth.”
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About the Author
Nick Powills
FollowNick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
