A North Carolina-based company that owns several auto service brands will acquire Leawood, Kan.-based Carstar Auto Body Repair Experts, a network of independently owned service franchises with about 230 shops in 30 states. Terms of the deal were not announced.
Carstar, which reported sales of $712 million last year and employs about 5,000 people, said the new ownership will help accelerate the company’s growth.
Driven Brands, the North Carolina-based outfit acquiring Carstar, is the corporate parent of Meineke, Maaco and other automotive-related businesses. Driven Brands, which is a portfolio company of Atlanta-based private equity firm Roark Capital Group, has more than 2,000 centers in the U.S. and Canada.
Driven Brands CEO Jonathan Fitzpatrick said the Carstar acquisition will give his company additional expertise in the collision repair business.