Driven Brands Holdings Inc. (NASDAQ: DRVN) today reported financial results for the fourth quarter and fiscal year ended December 26, 2020. For the fourth quarter, revenue was $288.5 million, an increase of 58% versus the prior year. Loss per share was $(0.06) for the fourth quarter, while adjusted earnings per share2 was $0.01. The revenue […]
Driven Brands Launches Initial Public Offering
Driven Brands Holdings Inc. announced that it has launched the roadshow for its proposed initial public offering that CollisionWeek reported earlier this week. The company is offering 38,000,000 shares of its common stock. The initial public offering price is expected to be between $17.00 and $20.00 per share and could raise of $700 million. Roark […]
Driven Brands Files for Initial Public Offering
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 franchise network has 4,100 locations across […]
Driven Brands Hosts Joint Virtual Summit for ABRA, CARSTAR and Fix Auto USA Collision Repair Brands
For the first time, Driven Brands family of collision repair companies will gather virtually for its 2020 convention – themed UNIT3D. “Our goal is to create a united group of brands that collectively help build our business and drive our success,” said Dean Fisher, president of the Driven Brands Collision Group. “This virtual summit is […]
Driven Brands Acquires International Car Wash Group
Driven Brands announced its acquisition of International Car Wash Group (ICWG) has been completed. 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. Driven, a portfolio company […]
Interview: Michael Macaluso, Driven Brands
Macaluso, group president of Driven Brand’s Paint, Collision & Glass segment, details the Fix Auto USA acquisition and how it benefits the franchise group’s collision repair strategy, insurance and vendor relationships. With last week’s announcement that it was acquiring the franchise operations of Fix Auto USA along with ten Auto Center Auto Body (ACAB) company […]
Driven Brands Announces Acquisition of Fix Auto USA Collision Repair Franchisor and Auto Center Auto Body
Franchise operator adds 150 franchise collision repair centers to its network and 10 company owned stores. Driven Brands today officially announced its acquisition of Fix Auto USA (FUSA) and Auto Center Auto Body, Inc. (ACAB). The addition adds nearly 150 franchised and ten company-owned collision repair locations to the Paint, Collision & Glass segment of […]
Tiffany Mason Named Chief Financial Officer at Driven Brands
Driven Brands, the parent of CARSTAR and other automotive aftermarket franchise brands, announced Tiffany Mason is joining the company as its new Executive Vice President and Chief Financial Officer effective March 2. “I am thrilled to welcome Tiffany to the Driven Brands family,” said Jonathan Fitzpatrick, Chief Executive Officer at Driven Brands. “Tiffany is a […]
Driven Brands Acquires Automotive Training Institute
Driven Brands confirmed it has acquired the Automotive Training Institute (ATI) the automotive repair and collision industry coaching and consulting company. According to the company’s website it has 31 full time coaches and over 1600 active shop members. According to a Driven Brands statement, “We are excited to add ATI to the Driven Brands family […]
Driven Brands Acquires Quebec-Based Auto Glass Provider
Clairus Group has over 240 locations and 22 distribution centers. Driven Brands today announced its acquisition of the Quebec, Canada-based Clairus Group, a vertically-integrated automotive glass distribution, replacement, and claims management company. The move adds 240 physical service locations, over 330 mobile locations, 22 distribution centers, and a claims management platform to the Driven Brands […]