Franchise Equity Partners to acquire international car wash business of Driven Brands for $470.7m.

Franchise Equity Partners, a provider of capital solutions for the franchise sector, agreed to acquire international car wash business of Driven Brands, an automotive services company, for $470.7m. “This transaction sharpens our focus on what we do best — scaling Take 5 and driving consistent cash generation through our Franchise Brands. IMO is a good business, but it is not core to our long-term strategy. By exiting it, we simplify our portfolio, strengthen our balance sheet, and position Driven Brands to create greater value for shareholders,” Danny Rivera, Franchise Equity Partners President and Chief Executive Officer.