By Jim Utter
Director of Journalism
Whistle Express Car Wash has entered into an agreement with Driven Brands Holdings that will more than triple its size and soon make it the largest express car wash company in the United States.
The two companies announced on Tuesday they had entered into a definitive agreement which will see Driven to sell its U.S. car wash business, Take 5 Car Wash, to Whistle Express Car Wash for $385 million.
Under the terms of the agreement, Whistle has agreed to pay Driven Brands $255 million in cash and deliver to Driven an interest-bearing seller note in the principal amount of $130 million, subject to customary adjustments. The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions.
The completed deal would leave Whistle with more than 530 express car wash sites across 23 states.
“Take 5 Car Wash is an extraordinary brand with a great team, and by combining our strengths, we’re primed to transform the industry and claim our spot as the go-to car wash destination in the U.S.,” said Jose Costa, CEO of Whistle Express Car Wash.
“Our goal is simple – to deliver unparalleled service and an unforgettable experience to every customer who visits.”
In addition to re-branding all Take 5 Car Wash locations as Whistle Express, Whistle is planning significant investment across four key areas to the customer experience:
- State-of-the-art wash technology with significant upgrades to wash tunnels, tire shine applicators, industry-leading ceramic paint protection applicators, vacuums, mat cleaners, and other important customer features.
- User-friendly mobile application technology that lets users easily manage memberships, earn loyalty rewards and access wash services at any of its locations.
- Best-in-class membership programs, including special perks and complimentary on-site services, including mat cleaning, air fresheners and detail supplies.
- Eco-friendly sustainability practices, including Whistle’s commitment to water reclamation, recovering up to 85 percent of the water used per wash and reducing water consumption by 91 percent compared to a typical home car wash.
In 2023, Whistle Express received a majority investment from funds managed by Oaktree Capital Management, L.P. to accelerate its growth plan.
“Whistle Express is on a mission to lead the car wash industry, and bringing Take 5 Car Wash into the fold is a game-changing step on that journey,” said David Quick, Oaktree Capital’s managing director and assistant portfolio manager.
“This move will allow us to enhance the experiences of car wash customers nationwide as we set a new standard for convenience and quality in the market.”
Driven to pay down debt, names new chief executive
In a statement, Driven Brands said cash proceeds from the transaction with Whistle Express will be used primarily to pay down debt as the company works to achieve 3x or less net leverage by the end of 2026.
“This transaction will enable Driven Brands to reduce debt and enhance our focus on our growing Take 5 Oil Change brand and our stable, cash-generating franchise brands,” said the company’s current President and CEO, Jonathan Fitzpatrick.
“This decision follows a deliberate and thoughtful strategic review of value-maximizing options for the U.S. car wash business, and we are confident it will better position the company to execute on our strategic initiatives and deliver long-term value to our shareholders.”
Also on Tuesday, Driven Brands announced its board of directors has named COO Daniel Rivera as the company’s new president and CEO and appointed him to the board, effective May 9.
Fitzpatrick will continue to serve on the board and has been appointed as non-executive chair of the board effective May 9. Fitzpatrick has also agreed to serve as a senior advisor for the remainder of 2025, working closely with Rivera to ensure a smooth transition.
Neal Aronson, current chairman of the board, will continue to serve as a director. Rivera joined Driven Brands as chief information officer in October 2012 and has served as chief operating officer since February 2023.
“On behalf of the Board of Directors and leadership team, I thank our U.S. car wash team members for their ongoing hard work and commitment to serving our customers,” Fitzpatrick said.
“We also appreciate the loyalty of our customers and expect a smooth transition for all stakeholders.”
