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Customers Appreciate Aftermarket Service Providers for Their Convenience, J.D. Power Finds

Retrieved on:

Tuesday, April 30, 2024

Amid record-high appointment wait times at franchised dealerships,1 customers are finding it easier to do business with aftermarket service providers due to no-appointment drive-in service or a small number of days wait for an appointment.

Key Points:

Amid record-high appointment wait times at franchised dealerships,1 customers are finding it easier to do business with aftermarket service providers due to no-appointment drive-in service or a small number of days wait for an appointment.
“Aftermarket service providers should continue to focus on service advisor performance, courtesy and creating a welcoming environment for customers who wait at the facility.
These factors are (in alphabetical order): ease of scheduling/getting vehicle in for service; fairness of charges; service advisor courtesy; service advisor performance; service facility; time to complete service; and quality of work.
Across each segment in the study, aftermarket service customers continue to find their provider easier to do business with (average of 6.26), while franchise dealer customers rate their service provider an average of 6.09.

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

Retrieved on:

Thursday, August 17, 2023

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.

Key Points:

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.
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 part of the Driven Brands (NASDAQ: DRVN) portfolio of leading automotive services businesses, including Take 5 Oil Change, Maaco, Fix Auto USA and CARSTAR.

Vehicle Owners Express Lower Satisfaction with Aftermarket Service Providers, J.D. Power Finds

Retrieved on:

Tuesday, May 2, 2023

Customer satisfaction is lower for the performance of the service advisor, specifically noting increased wait times, and fewer advisors providing helpful advice.

Key Points:

Customer satisfaction is lower for the performance of the service advisor, specifically noting increased wait times, and fewer advisors providing helpful advice.
Convenience, speed and price are very attractive to today’s vehicle owners who are looking for excellent service, and aftermarket service providers can leverage those factors to stem the tide of owners going to dealerships.”
The study, now in its fourth year, measures customer satisfaction with aftermarket service facilities, providing a numerical index ranking of the highest-performing facilities in the U.S. aftermarket.
These measures are (in alphabetical order): ease of scheduling/getting vehicle in for service; fairness of charges; service advisor courtesy; service advisor performance; service facility; time to complete service; and quality of work.
Aftermarket service providers can get a revenue jolt: The ever-increasing electric vehicle (EV) marketplace service needs and shorter length of service intervals is creating an opportunity for aftermarket service providers.

Streaming TV Platform Atmosphere Raises Series D Round at a $1 Billion Valuation

Retrieved on:

Tuesday, February 7, 2023

Atmosphere ( www.atmosphere.tv ), the worldwide leader in streaming TV entertainment for businesses, today announced a new $65M Series D funding round, led by Sageview Capital, Valor Equity Partners and S3 Ventures.

Key Points:

Atmosphere ( www.atmosphere.tv ), the worldwide leader in streaming TV entertainment for businesses, today announced a new $65M Series D funding round, led by Sageview Capital, Valor Equity Partners and S3 Ventures.
This newest round of funding follows an $80 million Series C financing led by Sageview Capital completed in December 2021.
“With this latest round of funding, Atmosphere will continue accelerating our growth and positioning ourselves as the leading television provider for businesses and venue operators in 2023,” said Leo Resig, co-founder and CEO of Atmosphere.
“Atmosphere is the perfect solution for advertisers who are looking to get in front of an increasingly unreachable TV audience.”
Advertisers who leverage Atmosphere’s reach see results.

Driven Brands elevates Danny Rivera to newly created Chief Operating Officer role

Retrieved on:

Thursday, January 26, 2023

CHARLOTTE, N.C., Jan. 26, 2023 /PRNewswire/ -- Driven Brands Holdings Inc. (NASDAQ: DRVN) ("Driven Brands" or the "Company"), the largest automotive services company in North America, today announced the appointment of Danny Rivera to the newly-created role of Chief Operating Officer effective February 20, 2023, reporting to Chief Executive Officer Jonathan Fitzpatrick.

Key Points:

CHARLOTTE, N.C., Jan. 26, 2023 /PRNewswire/ -- Driven Brands Holdings Inc. (NASDAQ: DRVN) ("Driven Brands" or the "Company"), the largest automotive services company in North America, today announced the appointment of Danny Rivera to the newly-created role of Chief Operating Officer effective February 20, 2023, reporting to Chief Executive Officer Jonathan Fitzpatrick.
"I am humbled to be appointed to this newly created Chief Operating Officer role.
Mr. Khalid is joining Driven Brands from his most recent role as Senior Vice President, Field Operations, at Great Wolf Resorts.
Previously, he served as the Vice President and Chief Operating Officer of Meineke at Driven Brands.

Mighty Auto Parts Promotes Chris Adams to Chief Revenue Officer

Retrieved on:

Friday, December 9, 2022

Meineke, PPE, 2013 Federated Auto Parts 400, GreatAmerica Financial Services, Unison Healthcare Group, Matco Tools, Acosta Sales & Marketing, X5 Retail Group, Ace Hardware, Health, Mighty, Growth, Lubricant, Business development, OE, Management, Epicor, Midas

PEACHTREE CORNERS, Ga., Dec. 9, 2022 /PRNewswire-PRWeb/ -- In January 2020, Chris joined Mighty as Vice President, Franchise Development, and spent time traveling to learn the Mighty System. During a global pandemic, Chris not only met, but exceeded, all franchise development goals, bringing on strong partners for the Mighty System. Chris was then promoted to Vice President, Franchise Development & Operations to help manage our franchise operational support. As Chief Revenue Officer, Chris will also assume responsibility for Mighty's Sales Department.

Key Points:

Mighty Distributing System announces the promotion of Chris Adams to Chief Revenue Officer.
PEACHTREE CORNERS, Ga., Dec. 9, 2022 /PRNewswire-PRWeb/ -- In January 2020, Chris joined Mighty as Vice President, Franchise Development, and spent time traveling to learn the Mighty System.
During a global pandemic, Chris not only met, but exceeded, all franchise development goals, bringing on strong partners for the Mighty System.
As Chief Revenue Officer, Chris will also assume responsibility for Mighty's Sales Department.

KBRA Assigns Preliminary Ratings to Driven Brands Funding LLC, Series 2022-1 Senior Secured Notes

Retrieved on:

Monday, September 26, 2022

Professional Services, Finance, Income, Glass, LLC, MAACO, Company, Intellectual property, Maintenance, ABRA, LTM, Paint, KBRA, SWS, Driven, Meineke, Class, Security (finance), Issuer, Series

KBRA assigns preliminary ratings to two classes of notes from Driven Brands Funding LLC, Series 2022-1, a whole business securitization.

Key Points:

KBRA assigns preliminary ratings to two classes of notes from Driven Brands Funding LLC, Series 2022-1, a whole business securitization.
Driven 2022-1 represents Driven Brands, Inc.s (Driven or the Company's) tenth securitization from its master trust, of which $1.9 billion are currently outstanding.
KBRA re-analyzed the prior Series in conjunction with the issuance of the Series 2022-1, and anticipates affirming all of the outstanding ratings on or shortly after the Series 2022-1 closing date.
Driven Brands Funding, LLC (the Issuer) and Driven Brands Canada Funding Corporation (the Canadian Co-Issuer) and together with the Issuer, the Co-Issuers are expected to issue up to $500 million of Series 2022-1 Notes.

Mayweather Boxing + Fitness Announces New COO

Retrieved on:

Monday, July 11, 2022

LOS ANGELES, July 11, 2022 /PRNewswire/ -- Mayweather Boxing + Fitness - a revolutionary group fitness concept founded by undefeated boxing champion, Floyd Mayweather – is excited to announce their new COO, Ralph Yarusso, an executive and USAF Veteran, who's currently chairman of the IFA VetFran Committee. With an extensive background in the franchise industry, Yarusso will help propel the brand forward as it continues to grow both nationally and internationally.

Key Points:

Now, with 30+ years of franchise expertise, he is ready to take on his new title at Mayweather Boxing + Fitnessas COO.
"I am excited to continue my professional career in the franchising world with Mayweather Boxing + Fitness," said Yarusso.
Offering the most time-tested group fitness experience on the market today, Mayweather Boxing + Fitness utilizes methods developed throughout Floyd Mayweather's 25-year undefeated boxing career.
Founded in 2018 by undefeated boxing champion Floyd Mayweather, Mayweather Boxing + Fitness provides an inclusive, high-intensity fitness experience developed by the champ himself.

Celebrating 50 years: Meineke franchisee wins 1972 corvette

Retrieved on:

Tuesday, May 17, 2022

Family, Paint, Parent, Stroke, Association, COVID-19, Ownership, Corvette, Chevrolet, MAACO, Time, Technology, Travel, Glass, Maintenance, Achievement, Toy, Dressmaker, Meineke

CHARLOTTE, N.C., May 17, 2022 /PRNewswire-PRWeb/ -- At the 2022 Meineke Convention, Janet Cummings won the prize of a lifetime: a 1972 convertible Chevrolet Corvette – in bright Meineke yellow. The 50-year old classic car pays homage to Meineke's 50th anniversary, which is being celebrated this year.

Key Points:

Janet Cummings won the prize of a lifetime: a 1972 convertible Chevrolet Corvette in bright Meineke yellow.
CHARLOTTE, N.C., May 17, 2022 /PRNewswire-PRWeb/ -- At the 2022 Meineke Convention, Janet Cummings won the prize of a lifetime: a 1972 convertible Chevrolet Corvette in bright Meineke yellow.
At the same time, there's something fitting about her win: Her family is in its third generation with Meineke.
When Janet's mother first approached Sam Meineke about purchasing a Meineke location, he had one question: "What would a woman do in a muffler shop?"

All 13 Award Winners at Recent 2022 Annual Meineke Convention Are AutoVitals Clients

Retrieved on:

Wednesday, March 2, 2022

Meineke, Industry, Meineke Car Care Centers, Year, SAN, Growth, Efficiency, ARO, Time, Acquisition, CEO, Operation, Technology, Partnership, GLOBE, DVI, Video game, Online shopping

SAN DIEGO, March 02, 2022 (GLOBE NEWSWIRE) -- At the recent 2022 Meineke Convention, 13 Meineke franchisees were recognized for their outstanding revenue growth, customer service and overall commitment to excellence in the auto repair & maintenance world in 2021.

Key Points:

SAN DIEGO, March 02, 2022 (GLOBE NEWSWIRE) -- At the recent 2022 Meineke Convention, 13 Meineke franchisees were recognized for their outstanding revenue growth, customer service and overall commitment to excellence in the auto repair & maintenance world in 2021.
These shop owners also have another common link; they are all AutoVitals clients.
AutoVitals' technology enables automotive shops of all sizes to grow faster and more profitably and provide the best possible customer service.
AutoVitals enables digital inspections, streamlines shop workflow, and improves customer acquisition, experience, and retention - all in one fully integrated system.