Driven Bands decides to Take 5
Trivest Partners has announced the sale of Take 5 Oil Change to Driven Bands.
New Orleans-based Take 5 is the fastest growing quick lube chain in the US, focused exclusively on oil changes and ancillary services, including windshield wiper and air filter replacements.
Trivest acquired it in November 2011 and under its ownership Take 5 has nearly trebled its store count, sales and profitably. It has grown rapidly via a combination of same store sales growth, new store openings, store conversions and two acquisitions, including a transformative acquisition of 16 locations in the Dallas market.
Trivest was able to implement a number of value enhancing initiatives at Take 5, including appointing automotive aftermarket industry veteran Marc Graham as CEO, and investing in a store-level data analytics systems.
Marc said, ‘I am very pleased with the support and insight provided by Trivest. It is rare to find a value-added financial partner that understands the importance of maintaining a company’s culture while simultaneously driving continuous improvement. Achieving growth in the crowded quick lube market is challenging and our partnership with Trivest helped support exponential Take 5 growth over the past four years.’
Driven Brands is one of the country’s leading franchise automotive companies with more than 2,000 locations and $2.1bn in system sales.