Roark Capital Portfolio Company Driven Brands Acquires Take 5 Oil Change
Driven Brands, a portfolio company of Roark Capital and the nation's leading automotive franchisor, announced today that its affiliate has acquired Louisiana-based Take 5 Oil Change. Founded in 1984, Take 5 Oil Change operates 65 quick oil change facilities across nine states throughout the Southeast. The Take 5 Oil Change management team will remain at the helm, and the headquarters will remain in New Orleans.
With this acquisition, Driven Brands continues to expand its Quick Lube division, which also includes Pro Oil Change and Driven Florida Lubes. Take 5 CEO Marc Graham, who headed Take 5 Oil Change as CEO since 2013 and has more than 40 years of experience in the automotive aftermarket, will lead the Driven Brands Quick Lube division.
"We are actively expanding our footprint through the strategic acquisition of top-performing, complementary auto aftermarket services companies," said Jonathan Fitzpatrick, CEO of Driven Brands. "Take 5 Oil Change is an ideal addition to our portfolio of brands. They have perfected their processes and deliver industry leading customer service. Take 5 Oil Change has a phenomenal brand, operating model, and team led by Marc. We look forward to partnering and helping accelerate their growth plans."
"This is a tremendous opportunity for Take 5 Oil Change to grow our business to the next level," said Graham. "With this partnership, we have access to world-class technology, purchasing power, operational support and resources that will enable us to accelerate our growth and success."
Driven Brands manages a family of automotive companies including Maaco, Meineke Car Care Centers, CARSTAR North America, 1-800 Radiator & A/C, which collectively generate annual system revenues of more than $2.1 billion.
Take 5 Oil Change represents the 5th acquisition for Driven Brands in the year since Roark Capital acquired the business, expanding the collective brands' footprint to more than 2,000 locations in the U.S.
This article originally appeared on PR Newswire.