CARSTAR Canada acquired by Roark
Driven Brands Inc, a portfolio company of Roark Capital and a leading US franchise automotive company, has acquired CARSTAR Canada.
CARSTAR is one of the largest multi-store network of independently owned collision and glass centres in Canada, operating more than 230 locations in 10 provinces.
‘As we continue to accelerate our exposure and growth throughout North America, Driven Brands remains committed to maintaining a portfolio of brands that our customers associate with quality,’ said Jonathan Fitzpatrick, president and chief executive officer of Driven Brands. ‘CARSTAR has a long and established history in Canada and I’m proud to have this iconic brand join the Driven Brands family. CARSTAR not only strengthens our product offering and expertise, but builds upon our established footprint in Canada.’
This development follows Driven Brands’ recent acquisition of CARSTAR’s US operations. The combined CARSTAR business accounts for more than 450 locations and $700 million of annual system sales. This makes CARSTAR the largest brand in both system sales and locations in the automotive collision repair industry.
CARSTAR Canada marks the third acquisition for Driven Brands since it was acquired by Roark Capital earlier this year, expanding the brands’ footprint to more than 2,200 franchise locations in the U.S. and Canada. Adding CARSTAR Canada to the Driven Brands portfolio is part of the company’s overall strategy to grow through acquisitions. This newest addition strengthens the company’s position as a North American powerhouse in the automotive aftermarket franchising industry.
‘CARSTAR Canada and our customers will benefit from Driven Brands’ and Roark Capital’s best in class executive teams and their extensive franchising expertise across a number of industries including automotive and retail services,’ said Sam Mercanti, CEO of CARSTAR Canada. ‘This is an ideal opportunity to leverage our combined franchise networks and improve operational efficiencies while enhancing the customer experience.’
Michael Macaluso, president of CARSTAR Canada added, ‘This is a very positive development for CARSTAR Canada, our customers and our partners. Joining the Driven Brands family will bring new capital resources to CARSTAR, allowing us to strengthen and grow for the future. This joining of forces demonstrates both of our organization’s drive to be humble and hungry.’