Driven Brands Holdings Inc. (NASDAQ: DRVN) announced today it closed a $500 million securitization offering to refinance existing debt. The parent company of collision repair industry brands such as Maaco, 1-800-Radiator & A/C, Auto Glass Now, and CARSTAR issued Series 2025-1 Fixed Rate Senior Secured Notes, Class A-2, maturing in October 2055 with an anticipated […]
Abra Names Doug Sharp 2025 Franchisee of the Year
Abra announced Doug Sharp, owner of two South Dakota locations, as its 2025 Franchisee of the Year at the Ascend 2025 Conference on Oct. 14. The award recognizes franchisees who demonstrate operational performance, community involvement and brand alignment. Sharp operates Abra franchise locations in Watertown and Brookings,S.D. He joined the Abra network in 2008 after […]
Mo Khalid Named COO at Driven Brands
Driven Brands Holdings Inc. (NASDAQ: DRVN) has appointed Mo Khalid as executive vice president and chief operating officer, the company announced Monday. Khalid previously served as executive vice president and president of Take 5 Oil Change. Tim Austin, who was chief operating officer of Take 5, will succeed Khalid as Take 5 president. “Mo is […]
Driven Brands Collision Group Announces Ascend Conference September 30-October 2 in Colorado
The Driven Brands Collision Group announced its 2025 Ascend Conference will take place from September 30 to October 2, 2025 at the Sheraton Denver Downtown Hotel in Denver, Colo. Franchise partners from Abra, CARSTAR, and Fix Auto USA, along with Driven Brands team members, vendors, and industry leaders, will unite for the third annual U.S. […]
Driven Brands Completes Sale of U.S. Car Wash Business
Driven Brands Holdings Inc. (NASDAQ: DRVN) announced it has completed the previously announced sale of its U.S. car wash business to Whistle Express Car Wash. The transaction, valued at approximately $385 million, consists of $255 million in cash and a $130 million interest-bearing seller note. The final proceeds may change due to customary post-closing adjustments […]
Ron Greenman Named Interim President of ATI
The Automotive Training Institute (ATI) has announced the appointment of Ron Greenman as Interim President. Greenman, who joined ATI in 2016 as its first full-time Chief Financial Officer, was promoted to Chief Operating Officer in 2021. During his tenure as COO, he helped scale operations, optimize internal processes, and support the company’s growth. “I’m incredibly […]
Driven Brands Reports 2024 Revenue of $2.3 Billion
Announces CEO transition and car wash business sale. Driven Brands Holdings Inc. (NASDAQ: DRVN), the parent of CARSTAR and MAACO, announced its fourth quarter and full-year 2024 financial results on February 25, while also revealing plans for a CEO transition and the sale of its U.S. car wash business. For 2024, Driven Brands delivered revenue […]
Driven Brands Collision Heart Fund Activated to Support Employees Impacted by California Wildfires
The Driven Brands Collision Group consisting of Abra, CARSTAR, and Fix Auto USA, has a significant number of franchise locations and employees in California. While all of our locations and employees are safe following the recent wildfires, many team members in the greater Los Angeles area are facing the aftermath of these devastating events. In […]
Maaco Celebrates Top Performers at 2024 Annual Convention
Maaco held an awards ceremony at its convention in Hollywood, Fla. on November 14. The convention is an annual opportunity to showcase successes from the year, provide key company updates along with recognizing the top performing franchisees who exemplified outstanding sales, operational excellence, leadership, growth and overall performance. This year’s convention had nearly 300 attendees […]
Frank Petrane Named President at Maaco
Maaco announced that it has appointed Frank Petrane to serve as its Brand President. Prior to his appointment, Petrane served as Senior Vice President of Fleet Programs at Driven Brands. Petrane has spent more than 18 years in roles of increasing responsibility at Driven Brands, after starting with Maaco as a National Account Manager in […]
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