Driven Brands Holdings Inc. has entered into a definitive agreement to sell IMO, its international car wash business to Franchise Equity Partners.
FORT LEE, NEW JERSEY / December 9, 2025 / Auto Laundry News -- “This transaction sharpens our focus on what we do best — scaling Take 5 and driving consistent cash generation through our franchise brands,” said Danny Rivera, president and chief executive officer. “IMO is a good business, but it is not core to our long-term strategy. By exiting it, we simplify our portfolio, strengthen our balance sheet, and position Driven Brands to create greater value for shareholders.”
Under the terms of the agreement, Franchise Equity Partners will acquire IMO for more than $470 million. The transaction is expected to close in the first quarter of 2026, subject to receipt of specified regulatory approvals.
“The divestiture of our international car wash business helps accelerate our path towards deleveraging our balance sheet while maintaining operational focus on our core, North American businesses,” said Mike Diamond, chief financial officer. “This transaction will reduce pro forma leverage by approximately 0.3x and demonstrates our commitment to achieve 3x net leverage by the end of 2026.”
Cash proceeds from the transaction will primarily be used to pay down debt and general corporate purposes.
