Baird's Investment Banking Group is pleased to announce the following transaction:

Date:
January 2021
Company:
Driven Brands, Inc.
Description:
Initial Public Offering
Sector(s):
Consumer
Industrial
Baird served as a bookrunner on this offering
$700.000 Million

Driven Brands, Inc. (“Driven Brands”, or “the Company”), a portfolio company of Roark Capital (“Roark”), recently completed an initial public offering of 31,818,182 common shares at a price of $22.00 per share, generating gross proceeds of $700.0 million. The Company intends to use the net proceeds from this offering to repay outstanding borrowings. In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 4,772,727 shares of common stock.

Driven Brands was established in 2008 and is based in North Carolina. Driven Brands is the largest automotive services company in North America with a growing and highly franchised base across 49 U.S. states and 14 international countries. Driven Brands’ scaled, diversified platform fulfils an extensive range of core consumer and commercial automotive needs, including paint, collision, glass, vehicle repair, oil change, maintenance and car wash. The Company provides a breadth of high-quality and high-frequency services to a wide range of customers who rely on their cars in all economic environments to get to work and in many other aspects of their daily lives.

Roark is an Atlanta-based private equity firm with over $13 billion in equity capital commitments raised since inception. Roark focuses on consumer and business companies, with a specialization in franchised and multi-unit business models in the retail, consumer services and business services sectors.

For additional information about this transaction, please contact:

Chris Sciortino +1-312-609-4923
Sandy Walter +1-414-298-5118
Adam Czaia +1-414-298-7358
Ryan Brunker +1-312-609-4679
Maria Watts +1-312-609-4743
Robert Foster +44-20-7667-8309