Driven Brands completes sale of IMO to Franchise Equity Partners
The €411 million deal marks a significant shift for the Charlotte-based company as it refocuses on its core U.S. business.
Driven Brands Holdings has finalized the sale of its international car wash division, IMO, to Franchise Equity Partners, in a move the U.S. automotive services group says will streamline its portfolio and strengthen its balance sheet.
The €411 million deal marks a significant shift for the Charlotte-based company as it refocuses on its core businesses, including its fast-expanding Take 5 oil change and car wash operations. Danny Rivera, president and chief executive, described the sale as “a strategic milestone”, adding that the divestment would allow Driven Brands to “sharpen our focus” while improving long‑term cash generation.
Proceeds from the sale will be used primarily to reduce debt, part of a broader effort to stabilise the company’s financial position following a period of uneven performance across several business lines. Driven Brands said the results of the divested car wash segment will be reported as discontinued operations from the fourth quarter of 2025. Auto Glass Now, previously grouped under Corporate & Other, will be elevated to a standalone reporting segment in the same period.
Driven Brands, which operates around 4,200 locations across North America, is the region’s largest automotive services company, with businesses spanning repair, maintenance, paint, collision, glass and parts distribution.
