Franchise Equity Partners Acquires Leading Car Wash Operator IMO Car Wash from Driven Brands

Franchise Equity Partners Acquires IMO Car Wash from Driven Brands

In a significant move, Franchise Equity Partners, LP (FEP), a private investment firm, has announced its acquisition of IMO Car Wash from Driven Brands (NASDAQ: DRVN). This marks FEP's first international acquisition and highlights its commitment to forming long-term partnerships with high-quality franchises and multi-location businesses.

The transaction includes the entire portfolio of IMO Car Wash, which consists of 720 locations primarily in the UK and Germany, along with nine additional countries in Europe and Australia. Established over 60 years ago, IMO Car Wash has gained recognition as a trusted brand in the car wash industry, servicing millions of customers annually through its high-volume, convenience-driven model.

Scott Romanoff, co-managing partner at FEP, expressed his enthusiasm about the acquisition, stating, “We believe IMO represents a unique opportunity to acquire a leading market brand with a strong heritage and an experienced operational team. Our primary focus will be to optimize and enhance the efficiency of the entire existing portfolio.” With a robust customer base and established retail partnerships, FEP sees vast potential for organic growth and further strengthening of the IMO brand.

Mike Esposito, another co-managing partner at FEP, noted that this investment will significantly extend FEP's retail market presence from the United States into the UK, Europe, and other regions. Under FEP's leadership, IMO aims to increase its wash frequency, enhance customer service quality, and develop strategic retail partnerships. Notably, IMO has established strong relationships with retailers in the UK and the EU, operating on-site car washes to boost traffic for both IMO and its retail partners.

Adam Green, president of IMO Car Wash, acknowledged the importance of this acquisition for the brand's future. He stated, “FEP understands both the legacy and potential of our brand. Their long-term approach, commitment to operational excellence, and extensive experience in multi-location business models make them the ideal partner as we aim to increase the value of our existing network.”

The acquisition aligns with FEP’s strategy of collaborating with leading operators in stable industries, where scale, brand recognition, and operational efficiency provide a sustainable competitive advantage. This partnership is expected to not only solidify IMO’s position in the market but also enhance service delivery to its customers.

For more details about Franchise Equity Partners and their portfolio, visit FEP's website.

Franchise Equity Partners specializes in providing capital for franchised businesses and their owners. Their unique approach combines extensive experience in corporate finance and operations with an initial portfolio value of $1 billion, allowing for growth, simplification of ownership structure, succession, estate planning, and other strategic business opportunities. Follow FEP on LinkedIn for the latest updates or contact Andrea Mazzola for further inquiries at Tidehouse, tel. 954-893-9150, or via email at [email protected]