Driven Brands

Driven Brands is neither — it is a public company formed by private-equity firm Roark Capital and taken public on Nasdaq in January 2021. It functions as a permanent-capital holding company that acquires and operates automotive-service franchises rather than managing a single family's wealth. The firm reports quarterly financials and maintains the governance structure of a public registrant.

CEO Jonathan Fitzpatrick leads acquisition strategy alongside the corporate development team based in Charlotte. Because the firm is a public operating company rather than a fund, deals are approved through the board of directors, on which Roark Capital retains significant influence. No external investment committee or LP advisory board is involved in deal-level approvals.

The firm targets founder-operated automotive-service chains in maintenance, collision repair, glass, and car washing — typically multi-unit operators with proven unit economics but limited scale. Acquisitions are structured as outright purchases rather than minority stakes, and the acquired brand is either absorbed into an existing platform or operated as a standalone banner under the Driven Brands umbrella.

As a public company, Driven Brands uses a mix of balance-sheet cash, debt facilities, and occasionally equity. It does not raise blind-pool acquisition funds from outside investors. The permanent-capital structure means assets are not subject to a fund-life clock or a requirement to exit on a fixed schedule, which is a key differentiator from private-equity consolidators.

The company's core operations are in the United States and Canada, anchored by its franchise networks and company-owned locations. Through acquisitions like International Car Wash Group, Driven Brands also operates in 14 additional countries, including the United Kingdom, Germany, and Australia, making it one of the few globally distributed automotive-service consolidators.