William Blair acted as the exclusive financial advisor to Driven Brands Holdings Inc. (NASDAQ: DRVN) (Driven Brands) in connection with the secondary sale of its HoldCo PIK investment in Express Wash TopCo, LLC, (Whistle Express) to Centerbridge Partners (Centerbridge). Whistle Express is a portfolio company of Oaktree Capital Management. This transaction represents a strategic secondary sale by Driven Brands of a seller financing facility recently put in place in connection with the sale of their U.S. car wash business to Whistle Express. William Blair also recently advised Driven Brands on the sale of that car wash business and the initial structuring of this HoldCo PIK facility. The transaction closed on July 25, 2025.
About the Companies
Driven Brands, based in Charlotte, NC, is the largest automotive services company in North America, providing a range of consumer and commercial automotive services, including paint, collision, glass, vehicle repair, oil change, maintenance, and car wash. The company is the parent company of some of North America's leading automotive service businesses including Take 5 Oil Change®, Meineke Car Care Centers®, Maaco®, 1-800-Radiator & A/C®, Auto Glass Now®, and CARSTAR®. Driven Brands has about 4,800 locations across the United States and 13 other countries, and services tens of millions of vehicles annually. Driven Brands’ network generates ~$2.0 billion in annual revenue from ~$6.2 billion in system-wide sales.
Whistle Express is a leading car wash operator in the United States, with 527 locations in 26 states. Founded in 2020, the Charlotte-based company remains committed to giving back to each local community it serves, positioning itself as the friendly, neighborhood car wash and partnering with local organizations to bring that feeling to life at every site.
Oaktree is a leader among global investment managers specializing in alternative investments, with $202 billion in assets under management as of December 31, 2024. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,200 employees and offices in 23 cities worldwide.
Centerbridge is a private investment management firm employing a flexible approach across investment disciplines — private equity, private credit, and real estate. The firm was founded in 2005 and, as of March 31, 2025, has roughly $42 billion in capital under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies.
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