CHARLOTTE, N.C., June 24, 2019 /PRNewswire-PRWeb/ -- Take 5
Oil Change (Take 5), one of the largest quick lube and automotive
service operators in the nation, announced its acquisition of
Advance Kwik Lube, a chain of quick lube and automotive service
centers with 25 total locations in Dallas/Fort Worth, Midland-Odessa, Amarillo and Lubbock, Texas.
Take 5 specializes in fast, friendly and simple drive-thru oil
change services. It has achieved significant growth since being
acquired by Driven Brands, the nation's leading automotive
franchisor, in 2016. Advance Kwik
Lube is Driven Brands' 27th acquisition and expands Take 5's
total footprint to 375 locations across the U.S. and extends its
leadership in the state of Texas.
The acquired centers will be rebranded as Take 5 Oil Change over
time.
"We're pleased to welcome Advance Kwik Lube to the Take 5
family," said Jonathan Fitzpatrick,
CEO of Driven Brands. "The addition of this business continues our
strategy of aggressively expanding Take 5's differentiated
automotive service platform."
"Since opening in 1998, we've been incredibly proud of our
business and employees and are happy to see them continue to grow
with Take 5," said Earl Erdmann, the
previous owner. "We've been very pleased with how Take 5 has
handled the acquisition and integration process, and couldn't be
happier with the outcome."
Since affiliates of Roark Capital acquired Driven Brands in
2015, it has executed nine major acquisitions, including Advance
Kwik Lube. Fueled by these acquisitions and strong organic growth,
Driven Brands continues to grow across its automotive verticals,
expanding the brands' footprint to nearly 2,700 locations across
North America.
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About Take 5 Oil Change
Take 5 Oil Change has been serving customers for more than 30
years. In 1996, Take 5 designed the first "5 Minute Drive-Thru Oil
Change" location. Take 5 Oil Change is the market leader in speed
and quality and is the fastest growing quick-lube chain in the
country. For more information, visit take5oilchange.com.
About Driven Brands
Driven Brands, headquartered in Charlotte, NC, is the parent company of
North America's leading automotive
aftermarket brands across four distinct verticals: Repair &
Maintenance, housing Meineke Car Care Centers®; Paint &
Collision, housing Maaco® and CARSTAR North America®; Distribution,
housing 1-800-Radiator & A/C®; and Quick Lube, housing Take 5
Oil Change. Driven Brands has nearly 2,700 centers across
North America, and combined, all
businesses generate more than $2.6
billion in system sales and service approximately 8 million
vehicles annually. For more information, visit
drivenbrands.com.
About Roark
Roark focuses on investing in franchised and multi-unit businesses
in the consumer and business services sectors. Since inception,
affiliates of Roark have invested in 69 franchise/multi-unit
brands, which collectively generate $37
billion in annual system revenues from 36,000 locations in
50 states and 81 countries. Please visit
http://www.roarkcapital.com to learn more.
SOURCE Driven Brands
