City Capital Advises Automotive Training Institute in its sale to Driven Brands

CHICAGO, IL – November 19, 2019; City Capital Advisors (“CCA”), a  leading results-driven boutique investment bank serving middle market companies, announced today that it acted as exclusive financial advisor to Automotive Training Institute (“ATI”) in connection with the sale of the company to Driven Brands, Inc., a portfolio company of Roark Capital Group.  Terms were not disclosed.

ATI was founded by Chris Frederick in 1975 and is the undisputed leader in providing critical financial and operational training and support to independent auto repair and collision/body shops throughout the United States.  Based in Linthicum, Maryland, ATI currently serves over 1,600 shops across the U.S. and Canada, helping their owners increase profitability and meet their personal goals and objectives. “My goal since I founded ATI has been to help shop owners drive profits and dreams home to their families.  While pursuing that goal, we have developed a family that not only has a passion for what they do, they are excited to help more owners and continue our mission.  City Capital Advisors has worked closely with us on a succession strategy, and I am confident that with Driven Brands, we have found a partner that can help ATI reach the next level of success,” said Chris Frederick.

Driven Brands, Inc., headquartered in Charlotte, North Carolina is a leader in automotive aftermarket services, managing flagship brands that include Meineke, Maaco, Carstar, ABRA, Quick Lube, Take 5 Oil Change and 1-800 Radiator.  Driven Brands has more than 2,800 locations throughout North America that generate in excess of $2.8 billion in annual system-wide sales servicing more than 8,000,000 cars annually.   “ATI’s service offering and strong value proposition to shop owners is highly complementary with Driven Brand’s mission to help auto center operators be successful and profitable,” explained Jonathan Fitzpatrick, President and Chief Executive Officer of Driven Brands.  “We are fully aligned with and impressed by Chris and his team’s passion to help their customers succeed,” Fitzpatrick added.

About City Capital Advisors

City Capital Advisors, a FINRA registered broker-dealer, is a results-driven investment banking advisory firm. Each of City Capital’s Managing Directors has more than 25 years of investment banking experience, offering clients judgment and transaction management expertise honed from successfully executing more than 500 merger & acquisition and capital raising transactions, collectively, over their professional careers. Our client engagements are managed exclusively by our experienced senior investment bankers and we pride ourselves on our consistent record of achieving superior results for our clients.