Driven Brands acquires ICWG
Summary
CHARLOTTE, N.C. — Driven Brands announced that its acquisition of International Car Wash Group (ICWG) has been completed, according to a press release. Click Here to Read More With the addition of ICWG, Driven now encompasses more than 4,000 locations across 15 countries and approximately $3.8 billion in annual system-wide sales, making it the largest automotive aftermarket services company by location count in North America, the release continued. Driven is a portfolio company of Roark Capital and has completed more than 35 acquisitions over the past five years, the release noted. In addition to ICWG, Driven’s portfolio includes Take 5 Oil Change, Meineke Car Care Centers, Automotive Training Institute, Maaco, CARSTAR, ABRA, Uniban, 1-800-Radiator & A/C and PH Vitres d’Autos, the release added. Morgan Stanley & Co. LLC served as financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and DLA Piper LLP served as legal advisors to Driven in this transaction, the release noted.