Franchise Equity Partners to buy IMO Car Wash for €406M, closing in Q1 2026.

Franchise Equity Partners has agreed to acquire IMO Car Wash from Driven Brands for €406 million, with the deal expected to close in Q1 2026. The transaction, which includes IMO’s 720 global locations across Europe and Australia, marks FEP’s first international acquisition. Driven Brands will use proceeds to reduce debt and lower its pro forma leverage by about 0.3x, supporting its goal of 3x net leverage by end-2026. The international car wash segment will be reported as discontinued operations starting Q4 2025. Driven Brands updated its 2025 outlook, lowering revenue to $1.85–1.87 billion, adjusted EBITDA to $445–455 million, and EPS to $1.18–1.23. Net store growth remains projected at 175–200.