Silver Oak Services Partners has recapitalized Atlanta-based Drive Automotive Services, an operator of automotive repair shops. No financial terms were disclosed.
EVANSTON, IL, September 8, 2021 – Silver Oak Services Partners, LLC (“Silver Oak”), a leading lower middle market private equity firm focused exclusively on business, healthcare and consumer service businesses, announced today that it has led the recapitalization of Drive Automotive Services, LLC (“Drive” or the “Company”).
Drive, headquartered in Atlanta, GA, is a leading, full-service operator of automotive repair shops, serving over 120,000 vehicles annually. The Company has 22 automotive repair sites across the U.S., in attractive, high-growth metropolitan markets including Atlanta, Denver, Houston, Knoxville and Phoenix under a handful of operating banners. Drive and its team of over 120 service technicians provide a complete suite of automotive maintenance and repair services to all major vehicle brands, with a relentless focus on customer service and experience.
“This is an exciting time for Drive as we’ve experienced significant growth in recent years. We are delighted to partner with Silver Oak as we look to expand our footprint. Silver Oak brings extensive experience in scaling multi-site platforms like ours, which will be invaluable as we execute on our growth strategy,” stated Rissy Sutherland, CEO & President of Drive.
Wade Glisson, Partner at Silver Oak, added, “We are thrilled to partner with Rissy and the rest of the Drive team. Over the past several years they have developed well-established brands across an attractive regional footprint with a differentiated operating model. We look forward to supporting the team in the next phase of the Company’s growth.”
About Silver Oak Services Partners
Founded in 2005 and based in Evanston, IL, Silver Oak Services Partners, LLC (www.silveroaksp.com) is a lower-middle market private equity firm focused on partnering with exceptional management teams to build industry leading business, consumer and healthcare service companies. Silver Oak utilizes a proactive, research-led investment process to identify attractive services sectors and seek out the best potential management teams and investment opportunities. Silver Oak seeks to make control investments in leading service businesses with $15 to $150 million in revenue. The firm is currently investing out of its fourth fund, a $500 million investment vehicle.