Franchise Equity Partners to Acquire IMO Car Wash from Driven Brands
Franchise Equity Partners announced on December 2, 2025 that it has entered into an agreement to acquire IMO Car Wash, the world's largest tunnel car wash operator, from Driven Brands (DRVN).
Rhea-AI Summary
Franchise Equity Partners announced on December 2, 2025 that it has entered into an agreement to acquire IMO Car Wash, the world's largest tunnel car wash operator, from Driven Brands (DRVN). The deal includes IMO's entire portfolio of 720 locations, primarily in the United Kingdom and Germany, plus sites in nine other European countries and Australia. IMO was founded 60 years ago and serves millions annually. FEP said it will prioritize increasing wash volumes, elevating the customer experience, and leveraging retail partnerships under its inaugural international acquisition.
Positive
- Acquisition covers 720 locations across UK, Germany, nine other European countries, and Australia
- Deal represents FEP's first international transaction (Dec 2, 2025)
- IMO has a 60-year brand history with millions of annual customers
- Planned operational focus: increase wash volumes and improve customer experience
Negative
- None.
Details
News Market Reaction – DRVN
In the Dec 2 session, DRVN gained 0.07%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- IMO sale price
- €406 million
- Divestiture of international IMO car wash business
- FY25 revenue outlook
- $1.85–1.87B
- Driven Brands continuing-operations guidance reiterated with divestiture news
- FY25 Adjusted EBITDA
- $445–455M
- Driven Brands continuing-operations outlook
- FY25 Adjusted EPS
- $1.18–1.23
- Driven Brands continuing-operations guidance
- Securitization issuance
- $500 million
- Series 2025-1 Fixed Rate Senior Secured A-2 Notes
- Net leverage target
- 3x
- Management leverage goal by end of 2026
- Market capitalization
- $2,502,170,927
- Pre-news market cap for DRVN
- IMO locations
- 720 locations
- Global tunnel car wash footprint sold by DRVN
Historical Context
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FEP to acquire IMO Car Wash’s 720-site global network from DRVN.
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DRVN to sell IMO for €406 million and use cash mainly to pay debt.
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Announcement of Morgan Stanley conference fireside chat and webcast details.
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Scheduling Q3 earnings release and call on Nov 4, 2025.
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Closed $500M securitization to refinance older notes and fund needs.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FEP Announces Inaugural International Acquisition via a Purchase of the Leading Global Tunnel Car Wash Operator With 720 Locations
Founded 60 years ago, IMO Car Wash is one of the most recognized and trusted car wash brands globally, serving millions of customers annually through its convenient, high-volume model. The company operates a uniquely diversified footprint and is supported by a management team with deep expertise in the car wash sector.
"We believe IMO represents a rare opportunity to acquire a market-leading, long-standing brand with a highly defensible footprint and a strong operating team," said Scott Romanoff, Co-Managing Partner at FEP. "Our goal is to help optimize and enhance performance across the existing portfolio. With IMO's established customer base, retail partnerships, and experienced leadership, we see significant opportunity to drive organic growth and continue strengthening the brand."
"Our investment in IMO is FEP's inaugural transaction outside
Under FEP's ownership, IMO will focus on increasing wash volumes, elevating the customer experience, and further leveraging its strategic retail partnerships. IMO maintains strong relationships with retailers across the
"This marks an important milestone for IMO Car Wash," said Adam Green, President of IMO Car Wash. "FEP understands both the heritage and the potential of our brand. Their long-term approach, commitment to operational excellence, and deep experience in multi-unit business models make them an ideal partner as we focus on unlocking more value from our existing network. We look forward to working with FEP to strengthen our market position and continue serving our customers."
The acquisition reinforces FEP's strategy of partnering with category-leading operators in resilient industries where scale, brand recognition, and operational efficiency create sustainable competitive advantages.
For more information about Franchise Equity Partners, please visit https://www.fep-us.com/.
About Franchise Equity Partners:
Franchise Equity Partners is a private investment firm specializing in providing capital to franchise businesses and their owners. Its differentiated approach combines extensive corporate finance and operating experience with an initial target portfolio size of
mailto:amazzola@fish-consulting.com
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SOURCE Franchise Equity Partners
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