Driven Brands plans to raise $760 Million in IPO

Driven Brands, Inc., one of the largest U.S. auto services franchisers, is looking to raise as much as $760 million through an initial public offering, which would value the Roark Capital-owned company at about $3.4 billion.

Last year, private equity firm Roark Capital, which acquired Driven from Harvest Partners in 2015, had considered selling it for about $2 billion, according to a Bloomberg LP report.

Driven reported $2.4 billion in sales in the nine months ended Sep. 26, 2020, generating $616 million in revenue, according to the filing.

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