(Bloomberg) -- Buyout firm Roark Capital is considering a sale of automotive services franchiser Driven Brands Inc. for as much as $2 billion, according to people with knowledge of its plans.
The Atlanta-based private equity firm is speaking to advisers about running an auction of Driven Brands in the fourth quarter, said the people, who asked not to be identified because the information is private. The company is expected to attract interest from other private equity firms, the people said.
A final decision on pursuing a sale hasn’t been made and Roark may decide to keep the company, they said.
A representative for Roark said the firm was unavailable for comment. Driven, based in Charlotte, North Carolina, declined to comment.
Driven was bought by Roark from peer Harvest Partners in 2015 for an undisclosed sum and has since been backed to expand organically and through acquisitions, including San Antonio, Texas-based Express Lube in 2016. The company operates across a range of verticals in the automotive aftermarket, including repairs, maintenance and painting, with brands including 1-800-Radiator & A/C and Pro Oil Change, according to its website.
Roark, which also has an office in New York, raised $5 billion for its 2018 vintage buyout fund, double the size of its 2015 predecessor, according to data compiled by Bloomberg. The company also has stakes in Arby’s Restaurant Group Inc. sandwich chain and Basecamp Fitness, according to its website.
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