Meineke News

Driven Brands, Inc., the parent of Meineke Car Care Centers, Inc., Econo Lube N’ Tune, Aero Colours and Tortal.net, announced today the acquisition of AutoQual and Drive N Style, Michigan based franchises specializing in mobile automotive services for new and used car dealers. Started in the past ten years, both companies offer innovative services which enhance the new/used vehicle to better meet the needs of today’s discerning buyers.

Acquired from Automotive Franchise Systems LLC, the purchase includes 80 AutoQual operating units in the United States and 8 units in Canada plus 9 Drive N Style operating units in the US. This latest purchase now complements Driven Brands’ 2005 acquisition of Aero Colours, another mobile based automotive services company specializing in a proprietary paint chip and scratch repair process.

Regarding the acquisition of AutoQual and Drive N Style, Kenneth D. Walker, CEO of Driven Brands, said, “Both companies are exciting additions to the growing portfolio of Driven Brands. Their business model plays to our strengths: expertise in growing profitable franchise-based businesses and in the automotive aftermarket.”

Walker added, “AutoQual and Drive N Style will allow us to achieve more critical mass in the mobile services business while creating additional growth opportunities for the other Driven Brand companies.”

Frank Soccorsi, Chief Operating Officer for AutoQual, will assume the position of President for both AutoQual and Drive N Style. “I see this as a tremendous opportunity to grow both businesses, he commented. “The acquisition will not change our basic day-to-day operations at all. At some point, back office functions and Franchise Development will be handled by Driven Brands, leaving us free to concentrate on opening new accounts, developing new sales channels and general operations. As far as our customers and franchisees are concerned, the transaction should be seamless.”

About Driven Brands, Inc.
Driven Brands, Inc., is headquartered in Charlotte, NC, and serves as parent company for the separate businesses: Meineke Car Care Centers, Inc. (a franchise-based automotive service and repair chain); Aero-Colours, Inc. (a franchised chain of mobile automotive paint repair services); Econo Lube & Tune (a franchised chain of automotive repair/quick lube services) and Tortal.net (developer of on-line training solutions for a variety of industries).

About Meineke Car Care Centers, Inc.
Beginning in 1972, Meineke Car Care Centers, Inc. has expanded its menu of product offerings to meet the demands of a changing marketplace. In 1986, the chain relocated from Houston, TX to Charlotte, NC. Demonstrating steady growth, both domestically and internationally with locations in Canada, Mexico, Puerto Rico, South America, Saudi Arabia and China, Meineke now represents over 900 franchised service centers, with an additional 100 licenses sold and in development. The American Association of Franchisees and Dealers recognized Meineke as its Franchisee of the Year and Meineke regularly appears in Entrepreneur Magazine’s Annual Franchise 500 (89th in 2007), a list of the 500 best franchise opportunities in America.

About Econo Lube N’ Tune
Econo Lube N’ Tune & Brakes was established in 1973 and was acquired by Driven Brands in 2006. The franchise automotive service chain has 190 units primarily in the Southwest and West and boasts 40 units which are co-branded with Meineke. This new concept of combining express oil changes with more technical repair expertise is proving very successful in the marketplace.

About Aero Colours
Based in Minneapolis, Minnesota, Aero Colours was the first company to market an airbrush touchup process for repairing stone chips on automobiles. Using specially equipped vans, Aero-Colours began by servicing new car dealerships exclusively, then extended service to used car dealers and now provides service to owners of personal vehicles. The company celebrated its 20th anniversary in 2005 and has grown to over 150 franchised units, serving more than 225,000 vehicles per year.

About AutoQual
Beginning in 1998, Ryan Elliott, an automotive entrepreneur, developed a series of proprietary processes and services for used/leased cars that not only made a car look and smell fresh but maintained that factory-new experience until the car was sold. The business quickly grew from a local Colorado-based company to a nationally recognized franchise with locations in 23 states across the country. In 2003 Automotive Franchise Systems LLC acquired AutoQual, building it to the category leader it is today.

About Drive N Style
Started in 2000 as Dealer Extras, Inc., founder Butch Davis created the first mobile installation company that specialized in the installation of unique interior and exterior restyling components. In 2004, Automotive Franchise Systems LLC acquired the innovative company, re-branded it to Drive N Style and began to develop a franchise network with a dealership-focused marketing approach promoting its unique "on-lot" installation capability.