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You are here: Home / News / Driven Brands Files for Initial Public Offering

Driven Brands Files for Initial Public Offering

January 4, 2021 By CollisionWeek Editor

Driven Brands Holdings filed on December 22 with the U.S. Securities and Exchange Commission (SEC) to raise up to $100 million in an initial public offering. Rennaissance Capital said, however, the deal is likely a placeholder for an IPO we estimate could raise up to $600 million.

Driven Brands logoDriven Brands franchise network has 4,100 locations across 49 states in the US and 14 countries internationally. Its platform provides a range of core consumer and commercial automotive needs, including paint, collision, glass, vehicle repair, oil change, maintenance, and car wash.

Collision repair brands operating under Driven Brands’ Paint, Collision & Glass segment include ABRA, CARSTAR, MAACO, Uniban and Drive N Style. The company also operates 1-800 Radiator and A/C and the Automotive Training Institute in its Platform Services segment.

The Charlotte, NC-based company was founded in 2015 and booked $798 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol DRVN. Driven Brands Holdings filed confidentially on March 26, 2020. Morgan Stanley, BofA Securities, Goldman Sachs, J.P. Morgan, Barclays, Credit Suisse, Baird, Piper Sandler and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.

Filed Under: News Tagged With: 1-800-Radiator, ABRA, CARSTAR, Driven Brands, MAACO

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