CHARLOTTE, N.C., Oct. 2, 2019 /PRNewswire-PRWeb/ -- Driven Brands, North America's leading group of automotive aftermarket brands, today announced its acquisition of ABRA Automotive Systems LP, the franchising subsidiary of ABRA Auto Body Repair of America ('ABRA'). The move adds 55 premier franchised collision repair facilities to the Collision portfolio of Driven Brands. It excludes corporately-owned ABRA facilities that were purchased by Caliber earlier this year.
The acquisition of ABRA is part of Driven Brands' continued growth in the heavy collision repair space, beginning with the acquisition of CARSTAR, which has doubled in size since its initial acquisition in 2015. The 55 franchised ABRA facilities will retain their current branding and join the newly-created Collision vertical housing both the CARSTAR and ABRA brands. Driven Brands plans to continue its aggressive growth in the collision space under its proven leadership and recognized operational platforms.
"We are happy to welcome the ABRA franchisees and team into the Driven Brands family," said Jonathan Fitzpatrick, CEO of Driven Brands. "With over 700 franchised heavy-collision shops in the Driven Brands portfolio, we believe Driven is a perfect home for the ABRA franchise system. Combining ABRA with our franchised collision repair expertise will allow the collision vertical to serve a broader base of customers and partners with industry-leading customer satisfaction and greater scale to the benefit of all the partners along the way."
Michael Macaluso will oversee both CARSTAR and ABRA as the President of Driven's newly-created Collision vertical. Dean Fisher will take on Macaluso's previous role as President of CARSTAR.
"From the first day we entered the industry back in 1984, our approach to this business has focused on providing quality repairs and superior customer service," said Tim Adelmann, Chief Business Development Officer, ABRA Auto Body Repair of America. "We are confident in the benefits Driven Brands will bring to both our owners and customers and are excited to be a part of this industry-leading organization."
Since affiliates of Roark Capital acquired Driven Brands in 2015, it has executed more than 30 acquisitions, including ABRA Auto Body Repair of America. Fueled by these acquisitions and strong organic growth, Driven Brands continues to expand across its automotive verticals, increasing the brands' footprint to over 2,800 locations across North America.
About Driven Brands
Driven Brands, headquartered in Charlotte, NC, is the parent company of North America's leading automotive aftermarket brands across four distinct verticals: Repair & Maintenance, housing Meineke Car Care Centers®; Paint & Collision, housing Maaco® and CARSTAR®; Distribution, housing 1-800-Radiator & A/C®; and Quick Lube, housing Take 5 Oil Change™. Driven Brands has over 2,800 centers across North America, and combined; all businesses generate more than $2.8 billion in system sales and service approximately 8 million vehicles annually. For more information, visit www.drivenbrands.com.
SOURCE Driven Brands
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