Driven Brands Holdings Inc., headquartered in Charlotte, N.C., acquired Auto Glass Now’s more than 75 company-operated locations in the U.S. on Dec. 30.
Auto Glass Now joins Driven Brands with more than 20 years of auto glass repair, replacement and calibration services experience, according to a statement by Driven Brands. The acquisition makes Driven Brands one of the largest North American auto glass service providers. The total market for auto glass repair in North America is approximately $5 billion with anticipated growth.
“I don’t want to underscore, obviously, our excitement about this acquisition,” Michael Macaluso, EVP of Driven Brands and group president of Paint, Collision, and Glass, says. The auto glass industry globally, and in the U.S., he says, is providing opportunity for individual players “and for scale and growth with Driven Brands.”
Auto Glass Now’s revenue for fiscal 2021 is anticipated to be $85 million. Driven Brands purchased the company for $170 million. “[The acquisition of Auto Glass Now] really does solidify our position as an industry player,” Macaluso says. Auto glass services are needed regardless of vehicle make and design. As one of the largest service providers now, Driven Brands is poised for further growth with “Auto Glass Now’s existing expertise and footprint.” Macaluso says the acquisition “positions us well for continued success.”
The immediate focus will be to welcome the Auto Glass Now family to Driven Brands. “We definitely are excited about the recent acquisition,” Macaluso says.
Driven Brands, parent company of Meineke Car Care Centers® and Maaco®, joined the auto glass industry in 2019 in Canada and now operates more than 300 auto glass locations in the U.S. and Canada.
“The automotive aftermarket is evolving, and we are incredibly bullish that glass services will be a key beneficiary of that evolution,” Jonathan Fitzpatrick, president and CEO of Driven Brands, says in the company statement. “The growth and highly fragmented nature of auto glass services make our entrance into the U.S. market an ideal strategic investment for Driven Brands.”