Driven Brands sells international car wash unit

Charlotte-based Driven Brands will sell IMO, its international car wash business, to New York City-based Franchise Equity Partners for more than $476 million.

CHARLOTTE, NORTH CAROLINA / Business NC / December 5, 2025 — Charlotte-based Driven Brands will sell IMO, its international car wash business, to New York City-based Franchise Equity Partners for more than $476 million.

The transaction is expected to close in the first quarter of 2026. It includes IMO’s portfolio of 720 locations, primarily across the United Kingdom and Germany, with sites in nine other European countries and Australia.

“IMO is a good business, but it is not core to our long-term strategy,” said CEO Danny Rivera in a release. “By exiting it, we simplify our portfolio, strengthen our balance sheet, and position Driven Brands to create greater value for shareholders.”

Proceeds from the transaction will be used to pay down debt and for general corporate purposes.

Driven Brands is the largest automotive services company in North America. Its brands include Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C, Auto Glass Now and CARSTAR. Including IMO, Driven Brands has more than 5,000 locations across the United States and 13 other countries, and services more than 70 million vehicles annually, according to its website.

Driven Brands’ network generates approximately $2.1 billion in annual revenue from approximately $6.3 billion in systemwide sales. It had about 10,700 employees as of Dec. 28, 2024.

Shares were trading down less than 1% midday Tuesday at $13.97. Shares have traded between $13.44 and $19.74 in the past 52 weeks, a 13% decline since Jan. 1. The stock has declined 48% over the past five years and now has a market capitalization of $2.3 billion.

Driven Brands will report the results of the car wash segment as discontinued operations beginning in the fourth quarter. Auto Glass Now, currently reported in the corporate and other segment, will be reported as a stand-alone segment beginning in the fourth quarter.

Rothschild & Co. is financial adviser to Driven Brands.