Driven Brands acquires 1-800 Radiator
Atlanta-based Roark Capital Group continued its buying spree today with the acquisition of 1-800 Radiator, the largest franchised automotive parts distributor in North America. The purchase was through Roark’s Driven brands portfolio, which it added to its stable this past April.
The franchised automotive business is hot these days (read more HERE)—including suppliers, auto repair and collision repair—with acquisitions scooping up many of the mom-and-pop-type shops throughout the category.
1-800 Radiator provides replacement parts for radiators, cooling units and fuel pumps for more than 100,000 independent installers and repair shops. Its 206 locations generate more than $200 million in annual revenue.
With this purchase, Roark has acquired 44 multi-unit brands that collectively generate $17 billion in annual revenue through 20,000 locations operating in 50 states and 75 countries.
At this level of rapid consolidation in the automotive category, it’s likely that Roark will eventually be seeing more competition as it continues adding to its empire.