---
schema_version: "secwatch.filing_event.v1"
accession: "0001804745-25-000005"
form_type: "8-K"
ticker: "DRVN"
cik: "0001804745"
company_name: "Driven Brands Holdings Inc."
filed_at: "2025-02-25T23:59:59+00:00"
generated_at: "2026-05-26T04:52:42.282152+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Driven Brands sells U.S. car wash for $385M; FY2024 Adj EBITDA $553M; appoints Rivera CEO

## Summary
- Sells U.S. car wash to Whistle Express for $385M ($255M cash + $130M seller note); expected close Q2 2025.
- FY2024 revenue $2.34B (+2%), Adj EBITDA $553M (+7%), Adj EPS $1.14; Q4 Adj EBITDA $131M (+5%).
- FY2025 outlook (ex-car wash): revenue ~$2.05-2.15B, Adj EBITDA $520-550M, Adj EPS $1.15-1.25.
- CEO Jonathan Fitzpatrick steps down May 9, 2025; COO Daniel Rivera appointed President/CEO and to Board.
- Proceeds from sale to reduce debt; target net leverage 3x or less by end of 2026.

## SEC filing metadata
- accession: 0001804745-25-000005
- form_type: 8-K
- ticker: DRVN
- cik: 0001804745
- company_name: Driven Brands Holdings Inc.
- filed_at: 2025-02-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1804745/000180474525000005/0001804745-25-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1804745/000180474525000005/drvn-20250225.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001804745-25-000005
- JSON: https://secwatch.observer/filing/0001804745-25-000005.json
- Plain text: https://secwatch.observer/filing/0001804745-25-000005.txt

## Key facts
- Executive change
  Daniel Rivera was elected as director at Driven Brands Holdings Inc..
  - Action: elected
  - Role: director
  source text: the Board approved increasing the size of the Board to 11 members and electing Mr. Rivera to serve as a director, both effective as of the Transition Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804745/000180474525000005/0001804745-25-000005-index.htm
- Executive change
  Jonathan Fitzpatrick was appointed as Non-Executive Chair at Driven Brands Holdings Inc..
  - Action: appointed
  - Role: Non-Executive Chair
  source text: The Board has also appointed Mr. Fitzpatrick to serve as the Non-Executive Chair of the Board following the Transition Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804745/000180474525000005/0001804745-25-000005-index.htm
- Executive change
  Jonathan Fitzpatrick departed as President and Chief Executive Officer at Driven Brands Holdings Inc..
  - Action: stepped down
  - Role: President and Chief Executive Officer
  source text: On February 24, 2025, Jonathan Fitzpatrick, President and Chief Executive Officer (“CEO”) of the Company, informed the Company of his intent to step down as President and CEO effective May 9, 2025 and terminate his employment with the Company (the “Transition Date”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804745/000180474525000005/0001804745-25-000005-index.htm
- Executive change
  Daniel Rivera was appointed as President and Chief Executive Officer at Driven Brands Holdings Inc..
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: the Board has appointed Daniel Rivera, age 46, currently the Company’s Chief Operating Officer, to serve as President and CEO, effective as of the Transition Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804745/000180474525000005/0001804745-25-000005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.