According to a press release published by PRNewswire, Franchise Equity Partners (FEP) has entered into an agreement to acquire IMO Car Wash from Driven Brands, marking FEP’s first international acquisition and expanding its portfolio with one of the world’s largest and most recognized tunnel car wash operators. The transaction includes all 720 IMO locations, primarily across the United Kingdom and Germany, with additional sites in nine other European countries and Australia.
Franchise Equity Partners, a New York–based private investment firm focused on long-term partnerships with multi-unit operators, franchisors, and franchisees, views IMO as a rare opportunity to acquire a trusted, high-volume brand with a deeply defensible market footprint. Founded 60 years ago, IMO Car Wash serves millions of customers annually and operates a widely diversified international network supported by a highly experienced leadership team.
“We believe IMO represents a market-leading, long-standing brand with a highly defensible footprint and a strong operating team,” said Scott Romanoff, Co-Managing Partner at FEP. He noted that FEP plans to optimize performance across IMO’s portfolio and sees significant potential to further strengthen the brand using its existing customer base, retail partnerships, and experienced operational leadership.
The acquisition also marks a strategic milestone for Franchise Equity Partners as it expands beyond the U.S. market. “Our investment in IMO is FEP’s inaugural transaction outside the United States,” said Mike Esposito, Co-Managing Partner at FEP. “We believe this represents the ideal foundation to expand our strong multi-unit retail presence to the United Kingdom, Europe, and beyond.”
Under FEP’s ownership, IMO will focus on increasing wash volumes, enhancing the customer experience, and deepening its relationships with retail partners across the UK and EU. IMO Car Wash frequently operates on-site at retail host locations, driving additional customer traffic for both parties.
“This marks an important milestone for IMO Car Wash,” added Adam Green, President of IMO. “FEP understands both the heritage and the potential of our brand. Their long-term approach and operational expertise make them an ideal partner as we work to unlock more value from our existing network.”
The acquisition aligns with FEP’s broader strategy of partnering with category-leading operators in resilient industries where scale, brand strength, and operational excellence create durable competitive advantages.