Franchise Equity Partners (FEP) has signed an agreement to acquire IMO Car Wash, the world’s largest tunnel car wash operator, from Driven Brands.

FEP announces the IMO Car Wash acquisition, adding 720 global sites and expanding its multi-unit retail presence.

FEP Announces Inaugural International Acquisition via a Purchase of the Leading Global Tunnel Car Wash Operator With 720 Locations

Driven Brands Holdings Inc. (NASDAQ:DRVN) announced Tuesday it has entered into a definitive agreement to sell its international car wash business, IMO, to Franchise Equity Partners for €406 million.

Franchise Equity Partners, LP, a private investment firm on a mission to create long-term partnerships with quality franchisees, franchisors, and multi-unit companies, today announced that it has entered into an agreement to acquire IMO Car Wash, the largest tunnel car wash business in the world, from Driven Brands (NASDAQ:DRVN).

Drive-thru coffee chain 7 Brew is one of the fastest-growing franchises out there. Since Blackstone invested in the brand in 2024, when it had about 190 locations, the company has more than doubled its unit count to about 460 this year.

7 Crew, a 50-store operator with plans to open another 200 locations, will grow primarily in Texas, Florida, Oklahoma and New Mexico with FEP’s backing.

FEP Invests in 7 Crew, Signs Development Deal for Over 200 7 Brew Drive-Thru Coffee Stands Across Texas, Florida, Oklahoma, and New Mexico

FEP to Acquire 38 Valvoline Company-Owned Stores in Austin, San Antonio, El Paso and West Texas Markets

Private investment firm welcomes new CFO Ari Herman, Senior Associate Grant Mueller, and Associate Alex Chang, and celebrates four promotions

New market additions follows significant investment made in franchisee Reliable Residential earlier this year to grow Precision Garage Door Service and other Neighborly brands

Kevin Burke, Doug Hoerr, Matt Hughes, Malcolm Rhodes and Brandon Emmerich will lead the firm's engagement efforts in restaurants, industrial heavy equipment, beverage, agricultural heavy equipment and data science

Significant investment in franchisee Reliable Residential to grow Precision Garage Door Service and other Neighborly brands in key markets across the country