Kian Capital Launches PARC Auto Platform with Acquisition of Leading Meineke Franchisee

Rhea-AI Summary

Kian Capital Partners has acquired a leading Meineke Car Care Center franchisee to establish a new platform called PARC Auto. PARC Auto currently consists of 15 Meineke automotive care centers in the Louisville, Kentucky area. The franchise group, founded in 1996, is known for its high-quality service and has received multiple awards. Kian's experience in the automotive space and founder-friendly approach make them an ideal partner for PARC Auto's growth.

ATLANTA & CHARLOTTE, N.C.--(BUSINESS WIRE)-- Kian Capital Partners, a lower middle market focused private investment firm, announced today that it completed the acquisition of a leading Meineke Car Care Center franchisee in partnership with management to establish a new platform in the general automotive repair space called PARC Auto.

PARC Auto is currently comprised of 15 Meineke automotive care centers in the Louisville, Kentucky metropolitan area. Bryan Brown originally founded the franchise group in 1996 and is a top operator in the Meineke system, having earned Franchisee of the Year in 2008, 2016 and 2021 and the Meineke President’s Award in 2020. The Company’s success has been driven by its high-quality service, strong customer satisfaction, leading operational performance and attractive and modern facilities.

Meineke is a franchise-based international automotive repair chain with over 750 locations and a 50-year history of delivering consistent and high-quality repair and preventative maintenance services. Meineke is part of the Driven Brands (NASDAQ: DRVN) portfolio of leading automotive services businesses, including Take 5 Oil Change, Maaco, Fix Auto USA and CARSTAR.

“Kian’s impressive track record in the automotive space and founder-friendly approach solidified my decision when choosing a partner,” said PARC Auto CEO Bryan Brown. “I am proud of the reputation we’ve built and the high-quality service we’ve provided to our customers over the last 27 years. We’ve hit many exciting milestones already, and I am confident that with Kian we can accelerate our growth to reach new heights.”

“We are excited to launch the PARC Auto platform, furthering Kian’s experience in the automotive space alongside Kian portfolio companies T Sportline, Eastwood and Driven Lighting Group,” said Kian Principal Caldwell Zimmerman. “Bryan Brown has an impressive team that has built a commanding presence across the Louisville market, and we look forward to expanding that leadership into new markets through new store openings and acquisitions. Meineke is well-positioned to be an industry consolidator with its highly recognizable and trusted brand supported by best-in-class franchisee resources provided by Driven Brands.”

PARC Auto is actively seeking partnerships with Meineke franchisees and independent general automotive repair companies. Business owners interested in learning more should contact David Duke, Partner, Business Development at Kian, at dduke@kiancapital.com.

About PARC Auto

PARC Auto is a franchisee of Meineke Car Care Centers that provides general automotive repair and maintenance with services including oil changes, brake and suspension repair, exhaust services, tire replacement, fluid changes and more. PARC Auto currently owns and operates 15 high-performing locations across the Louisville metropolitan area, and it has a reputation of strong customer satisfaction driven by its comprehensive, transparent and high-quality inspection and repair process.

About Kian Capital Partners

At Kian, we forge partnerships to ignite growth and build enduring value. Our goal is to provide flexible financial resources and additional operational horsepower to scale lower-middle-market businesses, realize aspirations and deliver long-term investment returns through genuine partnership. Proud to be recognized on Inc.’s Founder-Friendly Investors list for three consecutive years, Kian is a private investment firm with $825 million of capital under management and a focus on four core industry sectors: consumer, services, value-added distribution and specialty manufacturing. Our team of seasoned investors has over 100 years of collective experience providing transformational capital solutions and board-level strategic and operational guidance to founder/owner operated businesses. To learn more, visit www.kiancapital.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230817137493/en/

Business Inquiries

David Duke

Partner, Business Development

dduke@kiancapital.com

T 470.823.3008

Media Inquiries

Allie Gamble

MiddleM Creative (on behalf of Kian Capital)

allie@middlemcreative.com

T 704.280.1432

Source: Kian Capital Partners

FAQ

What is the name of the private investment firm that acquired the Meineke Car Care Center franchisee?

The private investment firm is called Kian Capital Partners.

How many Meineke automotive care centers are currently part of PARC Auto?

PARC Auto currently consists of 15 Meineke automotive care centers.

When was the franchise group founded?

The franchise group was founded in 1996.

What awards has the franchise group received?

The franchise group has earned Franchisee of the Year in 2008, 2016, and 2021, as well as the Meineke President's Award in 2020.

Who is the CEO of PARC Auto?

The CEO of PARC Auto is Bryan Brown.

What is the goal of PARC Auto's partnership with Kian Capital Partners?

PARC Auto aims to accelerate its growth with the support of Kian's experience in the automotive space.

What other companies are part of Kian's portfolio in the automotive space?

Kian's portfolio in the automotive space includes T Sportline, Eastwood, and Driven Lighting Group.

Is PARC Auto looking for partnerships with other automotive repair companies?

Yes, PARC Auto is actively seeking partnerships with Meineke franchisees and independent general automotive repair companies.

Who should business owners contact if they are interested in partnering with PARC Auto?

Business owners interested in partnering with PARC Auto should contact David Duke, Partner, Business Development at Kian, at dduke@kiancapital.com.