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AFS Companies AutoQual and Drive N Style Acquired by Driven Brands

Written on March 20th, 2008 by Joseph in Franchise News.

Automotive Franchise Systems, LLC announced the sale of AutoQual and Drive N Style, Michigan-based franchises specializing in mobile automotive services for new and used car dealers to Charlotte, North Carolina based Driven Brands, Inc. Driven Brands is the parent of Meineke Car Care Centers, Inc., Econo Lube N; Tune, Aero Colours and Tortal.net. The sales includes 80 AutoQual operating units in the United States and 8 units in Canada plus 9 Drive N Style operating units in the US.

Regarding the acquisition, John Lynch and Greg Longe, AFS Managing Partners and
Founders indicated that the sale allows AFS to focus and invest in existing brands
and develop complementary new ones.

“While we’ll miss our friends both on the AutoQual and Drive N Style staffs,” says
Longe, “going forward we believe the best is yet to come at AFS as we focus on
Dryer Vent Wizard, Collision on Wheels and developing new concepts.”

Frank Soccorsi, Chief Operating Officer for AutoQual, will assume the position of
President for both AutoQual and Drive N Style. “I see this as a tremendous
opportunity to grow both businesses,” says Soccorsi. “The acquisition will not
change our basic day-to-day operations. For AutoQual and DriveNStyle customers
and franchisees, the transaction will be seamless. Financial terms of the deal were not disclosed.

According to Longe, Dryer Vent Wizard and Collision on Wheels franchise
development will continue working with national and international franchise
consultant networks to recruit franchise candidates and build distribution.
AFS experienced double digit annual growth in both earnings and franchise units each
year since its inception in 2003 by John Lynch and Greg Longe. AFS is a company with
the experience to acquire, promote and cultivate franchise companies in the U.S. and
abroad.