#USA #New York #Franchise Equity #IMO Car Wash #Driven Brands

Franchise Equity Partners Expands Its Horizons with IMO Car Wash Acquisition

In a significant move for the investment world, Franchise Equity Partners, LP (FEP) has announced its acquisition of IMO Car Wash from Driven Brands, a deal highlighting FEP's strategy of investing in robust franchise opportunities. This acquisition marks FEP's first major step outside the United States, aiming to enhance its portfolio with a globally recognized brand and expanding its reach in the car wash industry.

A Strategic Acquisition

Founded over 60 years ago, IMO Car Wash has grown to become one of the largest operators of tunnel car washes worldwide, boasting an impressive network of 720 locations predominantly in the UK, Germany, and across nine other European countries, as well as Australia. The company is known for its reliable service and high customer satisfaction, welcoming millions of customers every year through its high-volume operating model.

Scott Romanoff, Co-Managing Partner at FEP, expressed enthusiasm about the acquisition, stating, “We believe IMO is a rare opportunity to acquire a leading brand with a long-standing history, a strong defensible market position, and a capable operations team.” He emphasized that the goal is to optimize and elevate performance across the existing portfolio, leveraging IMO's strong customer base and retail partnerships to foster organic growth and further strengthen the brand.

Future Growth Plans

FEP aims to enhance IMO's operational efficiencies and customer experiences while continuing to build on its existing strategic retail partnerships. Under its ownership, IMO plans to focus on increasing wash volumes and enhancing customer experiences, utilizing its established retail relationships to drive customer traffic for both IMO and its retail partners.

Mike Esposito, Co-Managing Partner at FEP, highlighted the significance of this acquisition: “Our investment in IMO is the first transaction we’ve made outside of the U.S. We are confident that it lays the groundwork for expanding our strong retail presence into the UK, Europe, and beyond.”

The strategy aligned with this acquisition is clear: FEP seeks to form partnerships with leading operators in stable industries where brand recognition, operational efficiency, and scale can deliver sustainable competitive advantages.

A Milestone for IMO Car Wash

Adam Green, President of IMO Car Wash, referred to the acquisition as an important milestone for the company. He noted, “FEP understands our brand’s legacy and potential. With their long-term approach, commitment to operational excellence, and extensive experience in multi-unit business models, they are the ideal partner at a time when we are focused on maximizing value from our existing network.”

The partnership promises exciting developments for IMO as it continues to adapt and grow within the evolving market, ensuring it stays relevant and responsive to customer needs. As FEP takes the reins, the future looks promising not only for the brand but also for the customer experience it aims to elevate.

Conclusion

As the car wash industry continues to expand, FEP’s strategic acquisition of IMO Car Wash paves the way for increased market presence and customer satisfaction. This move exemplifies how investments in established brands can lead to fruitful partnerships and shared success. For more information about Franchise Equity Partners and their investment strategies, visit their official website at www.fep-us.com.