Take 5 Oil Change sale marks sixth exit for Trivest Fund IV

Trivest Partners today announced the sale of Take 5 Oil Change Inc to Roark Capital portfolio company Driven Brands. Financial terms were not disclosed, but Trivest said the sale “represents the sixth exit event in Trivest Fund IV and is one of its most successful investments to date.” Trivest bought Take 5 from the company’s founder in 2011. Under its ownership, Take 5 “nearly tripled its store count, sales and profitability,” Trivest said in a statment.


Trivest Partners Completes the Sale of Take 5 Oil Change

MIAMI–(BUSINESS WIRE)–Trivest Partners, L.P. (“Trivest”) today announced the sale of Take 5 Oil Change, Inc. (“Take 5” or the “Company”) to Roark Capital portfolio company Driven Brands, the nation’s leading franchise automotive company with more than 2,000 locations and $2.1 billion in system sales. Take 5 represents the sixth exit event in Trivest Fund IV and is one of its most successful investments to date.

Take 5, headquartered in New Orleans, is the fastest growing quick lube chain in the country, focused exclusively on oil changes and ancillary services, including windshield wiper and air filter replacements. The Company maintains a niche focus of providing superior speed and best-in-class service to customers. This customer-centric approach has resulted in daily car counts and repeat customer rates well in excess of industry averages.

Trivest Fund IV acquired Take 5 from the Company’s founder in November 2011. Trivest’s investment thesis recognized the Company’s industry leading average revenue per location and strong profitability. Under Trivest’s ownership, Take 5 grew rapidly via a combination of same store sales growth, new store openings, store conversions, and two acquisitions, including a transformative acquisition of 16 locations in the Dallas market. The Company was able to build density in its core Louisiana and Mississippi markets as well as enter seven additional states, demonstrating the broad appeal of Take 5’s brand and customer value proposition. Under Trivest’s ownership, Take 5 nearly tripled its store count, sales and profitability.

Trivest was able to implement a number of value enhancing initiatives at Take 5. Trivest recruited Marc Graham, a talented automotive aftermarket industry veteran, to join the Company as CEO in 2013. To accelerate growth, Trivest made a considerable investment in the Company’s store-level data analytics systems, streamlined Take 5’s real estate site selection process and recruited additional executive talent. These improvements, complemented by accretive M&A, proved very successful at Take 5.

Marc Graham, Take 5’s Chief Executive Officer stated, “I am very pleased with the support and insight provided by Trivest. It is rare to find a value-added financial partner that understands the importance of maintaining a Company’s culture while simultaneously driving continuous improvement. Achieving growth in the crowded quick lube market is challenging and our partnership with Trivest helped support exponential Take 5 growth over the past four years.”

Russ Wilson, Trivest Partner said, “We are thrilled with all that Marc and his team have been able to accomplish. Over the past four years Take 5 has been transformed from a small industry participant to a scalable organization with a proven business model across the Southeast. We wish the Take 5 team all the best as they continue the Company’s next phase of growth as a member of the Driven Brands family.”

Take 5 was advised by Jefferies & Co. (financial advisor) and Akerman LLP (legal advisor).

About Trivest Partners:

Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 225 transactions, totaling in excess of $5.5 billion in value. For additional information, please visit www.trivest.com.

About Take 5 Oil Change:

Take 5 Oil Change has been serving customers for more than 30 years. In 1996 Take 5 designed the first “5 Minute Drive-Thru Oil Change” with the goal to “Change your oil, not your schedule”. Take 5 Oil Change is the market leader in speed and quality, and is the fastest growing quick lube chain in the country. For more information visit www.take5oilchange.com.