Franchise Equity Partners Acquires IMO Car Wash from Driven Brands, Marking a New International Venture

Franchise Equity Partners Expands Horizons with IMO Car Wash Acquisition

In a significant move in the world of investment, Franchise Equity Partners, LP (FEP), a private investment firm focused on building long-term partnerships with high-caliber franchisees and multi-location businesses, has announced the acquisition of IMO Car Wash. This strategic purchase from Driven Brands, which operates on the NASDAQ under the symbol DRVN, marks FEP's first foray into international markets.

Located predominantly in the UK and Germany, the acquisition includes a robust network of 720 car wash locations spread across nine European countries and Australia. Established six decades ago, IMO Car Wash has evolved into one of the most recognizable brands in the car wash industry, serving millions of customers each year with its high-volume, convenience-driven model. The firm boasts a well-diversified presence supported by an experienced management team that commands extensive knowledge within the car wash sector.

Scott Romanoff, Co-Founder of FEP, highlighted the uniqueness of the acquisition, stating, "We believe that IMO presents a rare opportunity to acquire a market-leading, long-standing brand with a remarkably resilient presence and a strong operational team. Our goal is to optimize and enhance the overall performance of the existing portfolio. With IMO's established customer base and trading partnerships, we see significant potential for driving organic growth and further strengthening the brand."

Mike Esposito, Co-Founder of FEP, emphasized the strategic importance of this acquisition in strengthening the company’s retail presence internationally. He stated, "This investment in IMO is FEP's first transaction outside the United States. We believe it serves as the perfect foundation for expanding our strong retail presence into the UK, Europe, and beyond."

Following this acquisition, IMO Car Wash plans to focus on increasing wash volumes, enhancing customer experiences, and leveraging its strategic retail partnerships. The business maintains strong relationships with retailers in the UK and EU, where it operates local car wash units designed to boost both IMO's customer traffic and that of their retail partners.

Adam Green, President of IMO Car Wash, spoke to the potential this partnership holds, saying, "This is a significant milestone for IMO Car Wash. FEP understands both the legacy and the potential of our brand. Their long-term approach, commitment to operational excellence, and extensive experience with multi-unit business models make them the ideal partner as we seek to extract more value from our existing network. We look forward to working together with FEP to strengthen our market position and continue serving our customers effectively."

This acquisition underscores FEP's strategy to form partnerships with leading providers in resilient industries where size, brand visibility, and operational efficiency create sustainable competitive advantages.

For further insights about Franchise Equity Partners and their investment focus, visit their official website at fep-us.com.

About Franchise Equity Partners

Franchise Equity Partners is a private investment firm dedicated to providing capital to franchise businesses and their owners. Their unique approach combines deep financial and operational expertise with an initial target portfolio volume of $1 billion, aiming to facilitate growth, simplify ownership structures, estate succession planning, and other strategic business opportunities. To learn more about Franchise Equity Partners, check out fep-us.com or follow them on LinkedIn.