Harris Williams & Co. Advises Driven Brands, Inc. on its Sale to Roark Capital Group

April 17, 2015

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Driven Brands, Inc. (Driven Brands), a portfolio company of Harvest Partners, LP (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,” said 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,” said 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,” added 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.

Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm pursuing management buyouts and recapitalizations of middle market companies in North America. Harvest Partners focuses on acquiring profitable companies in the business services and consumer, healthcare services, industrial and energy services, and manufacturing and distribution sectors. This strategy leverages Harvest Partners’ 30 plus years of experience in financing organic and acquisition-oriented growth companies.

Roark is an Atlanta-based private equity firm that 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, Roark has acquired 42 franchise/multi-unit brands, which have generated $17 billion in annual system revenues from 20,000 locations in 50 states and 72 countries. Roark's current brands include Anytime Fitness, Arby's, Atkins Nutritionals, Batteries Plus Bulbs, Carl Jr.'s, Corner Bakery, 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, Pet Valu, Primrose Schools, Waxing the City and Wingstop.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s T&L Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), surface transportation, airport and aviation services, transportation equipment and the automotive and heavy duty vehicle market. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority.  Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.