Highest-materiality recent filing
Driven Brands Q4 revenue $460M; completes restatement; IMO divestiture improves leverage
Q4 2025 revenue $460.1M (+8% YoY); adj. EBITDA $111.9M (+7% YoY).
Waived defaults or events of default arising from borrower's notice of intent to restate financials for FY2023, FY2024, and first three quarters of FY2025.
Driven Brands obtains waiver to file 2025 10-K by June 10, 2026; extends Q1 and accountant deadlines
Waiver extends deadline for 2025 annual financial statements (2025 Form 10-K) to June 10, 2026.
Q4 2025 revenue $450-460M, FY 2025 $1,850-1,860M; Q1 2026 revenue $475-485M.
Driven Brands amends indenture to extend deliverables after subsidiary financial restatement
Amendment No. 1 extends deadlines for certain deliverables after a re-issuance restatement of co-issuers' financial statements.
Driven Brands Restates Financials for FY2023, FY2024, and Interim 2025 Periods
Audit committee concludes material errors in previously issued financial statements for fiscal years 2023 and 2024 and interim periods in 2025; restatement required.
Driven Brands delays Q4/FY2025 earnings due to Item 4.02 non-reliance filing
Company delays release of Q4 and year ended December 27, 2025 financial results and related conference call.
Driven Brands recasts FY2025 segment data after international car wash divestiture
New segments effective Q4 FY2025: Take 5 (growth), franchise brands (stable cash), Auto Glass Now (developing).
Driven Brands closes sale of international car wash business for €411M
Sold IMO Car Wash Group to Franchise Equity Partners for total consideration of ~€411M.
Driven Brands appoints Timothy Johnson to Board of Directors effective Jan 1, 2026
Timothy Johnson elected as independent director effective Jan 1, 2026, and will serve on Audit Committee.
Driven Brands sells international car wash for €406M; updates FY2025 outlook
Purchase price €406M (locked-box); daily ticker from July 1, 2025 to close.
Revenue $535.7M (+6.6% YoY); net income $60.9M ($0.37 diluted) vs loss $11.5M a year ago.
Driven Brands closes $500M securitization at 5.296% to refinance 2019-1 and 2022-1 notes
$500M Series 2025-1 Class A-2 Notes priced at 5.296%, anticipated repayment Oct 2030, final maturity Oct 2055.
Driven Brands appoints Mo Khalid as COO; Tim Austin succeeds as Take 5 President
Khalid named EVP & COO effective August 25, 2025; previously EVP & President of Take 5.
Driven Brands Q2 revenue +6.2% to $551M; adj EPS $0.36; sells car wash note, reaffirms FY outlook
Revenue $551M (+6.2% YoY); system-wide sales $1.6B (+3.1%); same-store sales +1.7%.
Driven Brands shareholders elect three Class II directors, approve say-on-pay, ratify PwC
Catherine Halligan, Rick Puckett, Michael Thompson elected Class II directors; Halligan received 131.95M votes for.
Driven Brands Q1 revenue up 7% to $516M; reaffirms FY25 outlook; CEO succession
Revenue $516.2M (+7% YoY); net income $6M ($0.04 EPS) vs $4M; adj. EPS $0.27 vs $0.25.
Driven Brands appoints Rebecca Fondell as CAO effective May 9, 2025
Rebecca Fondell, previously Global Corporate Controller at Papa John's, named SVP and CAO.
Driven Brands closes $385M sale of U.S. car wash business to Whistle Express
Cash proceeds of ~$255M plus $130M seller note; total consideration ~$385M subject to adjustments.
Driven Brands appoints Daniel Rivera as CEO effective May 9, 2025
Daniel Rivera named CEO effective May 9, 2025, succeeding prior leadership.
Driven Brands restructures segments: Take 5 Oil Change now a stand-alone reportable segment
New segments effective Q1 2025: Take 5, Franchise Brands, Car Wash, Corporate and Other.
Driven Brands extends $300M revolver to Feb 2030; $155M drawn
Borrower Driven Holdings amended credit agreement on Feb 27, 2025, extending maturity to Feb 27, 2030 (with springing provision).
Driven Brands sells U.S. car wash for $385M; FY2024 Adj EBITDA $553M; appoints Rivera CEO
Sells U.S. car wash to Whistle Express for $385M ($255M cash + $130M seller note); expected close Q2 2025.
Driven Brands CAO Michael Beland resigns effective Jan 3, 2025
Michael Beland, Chief Accounting Officer, resigned to pursue another opportunity; effective January 3, 2025.
Driven Brands pays $650K to settle stockholder lawsuit mootness fee claims
Agreed to pay $650,000 in attorneys' fees and expenses to resolve Bruce Taylor v. Driven Equity LLC et al. action.
Driven Brands Q3 net loss $15M, adj EBITDA up 14%; reaffirms FY24 outlook
Revenue $592M (+2% YoY); same-store sales +1.1% (15th consecutive quarter).
Driven Brands Q2 SSS +0.5%; revenue $612M; CFO Diamond appointed; lowers FY SSS outlook
Q2 revenue $612M (+1% YoY); net income $30.2M ($0.18 diluted); adjusted EBITDA $152.2M (+4%); adjusted EPS $0.35.
Driven Brands closes $275M securitization at 6.372% to refinance existing debt
Issued $275M of 6.372% Series 2024-1 Class A-2 Notes, final maturity Oct 2054, anticipated repayment Oct 2031.
Driven Brands amends stockholders agreement; adds fiduciary outs, removes consent rights
Amends 2021 Stockholders Agreement with Roark-affiliated Principal Stockholders (Driven Equity LLC, RC IV Cayman ICW Holdings LLC).
Driven Brands shareholders approve 10M share increase under 2021 Omnibus Plan
Stockholders elected Neal Aronson, Jonathan Fitzpatrick, and Jose Tomás as Class I directors through 2027.
Driven Brands Q1 net income $4.3M ($0.03 EPS); adj EBITDA $131M (+6%); CFO Ferrera resigns
Revenue $572M (+2% YoY), system-wide sales $1.6B (+7%), 0.7% same-store sales growth, 13th consecutive quarter of SSS growth.
Driven Brands Holdings Inc. (the “Company”) has appointed Rebecca Fondell to serve as the Company’s Senior Vice President and Chief Accounting Officer (“CAO”) effective as of May 9, 2025.
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.
The Board has also appointed Mr. Fitzpatrick to serve as the Non-Executive Chair of the Board following the Transition Date.
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”).
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.
The Company announced on August 1, 2024, that it had appointed Michael F. Diamond, age 42, to serve as its Executive Vice President and Chief Financial Officer (“CFO”) effective as of August 9, 2024
Following the Effective Date, Mr. Beland will continue to serve in his prior role as the Company’s Principal Accounting Officer.
and has appointed Joel Arnao, the Company’s current Senior Vice President, FP&A, Treasury, and Investor Relations, as the Company’s interim Chief Financial Officer
On April 26, 2024, Gary W. Ferrera, the Company’s Executive Vice President and Chief Financial Officer, notified the Company of his intent to resign from the Company to pursue a professional opportunity at a privately held company.
the Board of Directors of the Company has designated Michael Beland, the Company’s current Senior Vice President and Chief Accounting Officer, as the Company’s principal financial officer
Max materiality 0.90 · Median 0.70 · Most common event other_material