Kansas City, MO-based CARSTAR Auto Body Repair Experts has been acquired by Driven Brands, Inc., a portfolio company of Roark Capital. Driven Brands is the nation's leading franchise automotive company.
CARSTAR is North America's largest multi-shop network of independently owned collision repair facilities in the U.S., operating in more than 240 locations in 30 states.
This acquisition allows them to create a new division called Paint & Collision, which will be led by the current Maaco Franchising, Inc., president, Jose R. Cost, and comprised of Maaco, CARSTAR and Drive N Style.
Driven Brands manages a family of automotive companies including Maaco, Meineke Car Care Centers, 1-800 Radiator, Merlin 200,000 Mile Shops, Pro Oil Change, Econo Lube & Tune, AutoQual, Aero-Colours and Drive N Style. Incorporating CARSTAR into the Driven Brands portfolia, the brands will now generate annual system revenues of approximately $1 billion through 2,000 locations in 48 states and two countries.
After a record year in 2014 for sales and growth, CARSTAR finished the first half of 2015 with system-wide sales of $386 million, which puts it on track to outpace its performance in 2014. In 2015, CARSTAR stores in the U.S. have generated year-to-date same store sales increases of 8.3 percent, outpacing the overall collision repair industry average by more than four percent. In addition, CARSTAR is expanding its insurance relationships, securing programs with several of the top insurance carriers.
CARSTAR represents the 11th acquisition for Driven Brands since 2013, expanding the brands' footprint to more than 2,000 franchise locations in the U.S. Adding CARSTAR to the Driven Brands portfolio is part of the company's overall strategy to grow through acquisition.