Driven Brands Holdings Inc. is a US-based automotive aftermarket service provider that operates through its various subsidiaries. The company's business model is based on providing customers with a range of automotive services, including paint and body repair, vehicle maintenance, and oil changes. Driven Brands operates in a franchise model, with its subsidiaries operating under well-known brand names, such as Meineke Car Care Centers, Take 5 Oil Change, and Maaco Collision Repair and Auto Painting. The company's head office is located in Charlotte, North Carolina.
Driven Brands Holdings Inc. was founded in 1972 by Driven Brands Chairman and CEO, Jonathan Fitzpatrick. It started as a single Meineke Car Care Center in Houston, Texas, and expanded its operations to become one of the largest automotive service providers in the United States. In 2015, Driven Brands was acquired by Roark Capital Group, a private equity firm that specializes in franchise investments. In 2021, Driven Brands went public through an initial public offering (IPO) and is now listed on the NASDAQ exchange under the ticker symbol DRVN.
Driven Brands operates through its subsidiaries, which include Meineke Car Care Centers, Take 5 Oil Change, Maaco Collision Repair and Auto Painting, CARSTAR, 1-800-Radiator & A/C, and Uniban Canada. These brands provide a range of automotive services, including oil changes, vehicle maintenance, paint and body repair, and windshield repair and replacement. Driven Brands has over 4,100 locations across North America, with operations in the United States, Canada, and Mexico.
The company has a diversified revenue stream, with its largest revenue source being franchise royalties and fees. In addition to this, the company also generates revenue through product sales, advertising fees, and software services. Driven Brands is committed to providing its franchisees with the support and resources they need to succeed. The company has a dedicated franchisee support team that provides ongoing training, marketing support, and technical assistance.