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Driven Brands Holdings Inc. raised $700 million in its initial public offering yesterday, selling almost 32 million shares, down from a planned 38 million, for $22 each. That's 19 percent higher than its initial range of $17 to $20. The IPO set a couple of records, too, according to BofA Securities, bookrunner on the deal.

An uptick in registered vehicles, longer work commutes and lower gas prices continue to present more opportunities for automotive aftermarket franchises as they look to snag a piece of a $287 billion industry.

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Ted Rippey's family built the 1-800 Radiator franchise from “this rinky-dink, two-unit parts warehouse” into a 230-unit auto parts company they sold to Driven Brands in 2015. Now, Rippey heads franchising for another Driven-purchased brand, Take 5 Oil Change, and he's enjoying the well-capitalized rollout of the franchise effort.

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Change is a constant in auto-mobiles, but with the rise of shared-car services and fast-tracked driverless vehicle technology, the pace of upheaval in this massive industry is going faster than ever.