Focus Advisors, the leading M&A firm specializing in collision repair transactions, is proud to announce the sale of eight CARSTAR franchise shops to CARSTAR franchisor, Driven Brands. Owners Jeff Middleton and Kevin Parsons operated their eight shops as an MSO with key locations along the I5 corridor in the Seattle WA region. All locations will continue to operate as CARSTAR shops.
This acquisition marks another major MSO acquisition by Driven Brands of Charlotte, NC. In March of 2020, Driven acquired Auto Center Auto Body, a premier 9 shop MSO operating as a FIX AUTO franchisee in Southern California. Driven now operates 24 company owned shops. Simultaneously with the acquisition of the 8 Seattle area shops, Driven also acquired 2 CARSTAR shops in Puyallup WA.
David Roberts, Managing Director of Focus Advisors who led the transaction, observed that this premier MSO was built over more than 15 years by two classic entrepreneurs. “As widely respected franchisees of the CARSTAR franchise system, Jeff and Kevin created not only a great operation but also great brand awareness in the Seattle market for CARSTAR.”
Jeff Middleton commented “The journey from a single shop in 1994 to these 8 shops was both tough and rewarding. It was never easy, but Kevin and I are proud of the operations we built and the people who helped us build the business.” Echoing that sentiment, Kevin Parsons added, “Now its time for the people we trained and promoted to help take these shops to the next level. We are confident they will keep delivering quality and performance for the years to come.”
Describing the process of deciding to sell and then executing on that decision, Jeff noted, “We went down the road with a couple of prospective buyers on our own over the past two years and were disappointed in the outcome. Recognizing that we needed professional help to maximize our value, we asked some friends who gave us simple advice. Use Focus Advisors. We did our due diligence and then engage them to represent us. Dave Roberts and Chris Lane and their team led us through six months of preparation and sale that far exceeded our expectations.”
