Driven Brands Completes $225.3 Million Secondary Offering

Paul, Weiss advised automotive services company Driven Brands Holdings Inc. and selling stockholders Driven Equity LLC and RC IV Cayman ICW Holdings LLC, each of which is a related entity of Roark Capital Management, LLC, in a secondary offering of 7 million shares of Driven Brand’s common stock by the two selling stockholders. The shares in the offering were priced at $32.19 per share for gross proceeds of $225.3 million to the selling stockholders. BofA Securities, Inc. and Morgan Stanley acted as underwriters for the transaction.

The Paul, Weiss team included, among others, corporate partners John Kennedy and Jeffrey Marell and counsel Christodoulos Kaoutzanis and David Epstein; and tax partner Matthew Jordan.