Roark Capital Affiliates Maintain Significant Stake in Driven Brands
Ticker: DRVN · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 1804745
Complexity: simple
Sentiment: neutral
Topics: insider-ownership, institutional-holding, amendment, private-equity
TL;DR
**Roark Capital still owns a big chunk of Driven Brands, signaling confidence.**
AI Summary
Roark Capital, through its various entities including DRIVEN EQUITY SUB LLC, has filed an amendment to its Schedule 13G, indicating its continued significant ownership in Driven Brands Holdings Inc. as of December 31, 2023. This filing, an Amendment No. 2, updates previous disclosures about their beneficial ownership of the company's Common Stock, $0.01 par value. This matters to investors because Roark Capital is a major private equity firm, and their sustained large stake suggests continued confidence in Driven Brands' long-term prospects, potentially signaling stability or future strategic moves.
Why It Matters
Roark Capital's continued substantial ownership in Driven Brands Holdings Inc. signals their ongoing commitment and belief in the company's value, which can reassure current and potential investors.
Risk Assessment
Risk Level: low — This filing is an update on existing ownership, not a new acquisition or divestiture, indicating stability rather than immediate risk.
Analyst Insight
Investors should view this filing as a confirmation of Roark Capital's continued long-term interest in Driven Brands. While not indicating immediate action, it suggests stability and potential for future strategic involvement, which could be a positive signal for the stock's long-term outlook.
Key Players & Entities
- Driven Brands Holdings Inc. (company) — the subject company whose securities are being reported
- DRIVEN EQUITY SUB LLC (company) — one of the reporting persons and an affiliate of Roark Capital
- Roark Capital (company) — the private equity firm controlling the reporting entities
- Neal K. Aronson (person) — listed as a group member, likely a principal at Roark Capital
- $0.01 (dollar_amount) — par value of Driven Brands Holdings Inc. Common Stock
Forward-Looking Statements
- Roark Capital will likely maintain its significant ownership stake in Driven Brands Holdings Inc. throughout 2024. (Roark Capital) — high confidence, target: 2024-12-31
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an Amendment No. 2 to a Schedule 13G, updating the beneficial ownership information for Driven Brands Holdings Inc. Common Stock as of December 31, 2023, by various Roark Capital affiliated entities.
Who are the primary reporting persons or group members in this filing?
The primary reporting persons and group members include DRIVEN EQUITY LLC, DRIVEN EQUITY SUB LLC, Neal K. Aronson, RC DRIVEN HOLDCO LLC, RC IV CAYMAN ICW EQUITY LLC, RC IV CAYMAN ICW HOLDINGS LLC, RC IV CAYMAN ICW HOLDINGS SUB LLC, ROARK CAPITAL GENPAR III LLC, ROARK CAPITAL GENPAR IV CAYMAN AIV LP, ROARK CAPITAL GENPAR IV CAYMAN AIV LTD., ROARK CAPITAL PARTNERS III AIV LP, and ROARK CAPITAL PARTNERS IV CAYMAN AIV LP.
What is the CUSIP number for the securities mentioned in the filing?
The CUSIP number for the Common Stock, $0.01 par value, of Driven Brands Holdings Inc. is 26210V102.
What was the 'Date of Event which Requires Filing of this Statement'?
The 'Date of Event which Requires Filing of this Statement' was December 31, 2023.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(d), as indicated by the checked box in the filing.
Filing Stats: 3,500 words · 14 min read · ~12 pages · Grade level 9.7 · Accepted 2024-02-12 08:53:48
Key Financial Figures
- $0.01 — Inc. (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securiti
Filing Documents
- eh240442362_13ga2-drvn.htm (SC 13G/A) — 199KB
- 0000950142-24-000346.txt ( ) — 202KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 12, 2024 DRIVEN EQUITY SUB LLC By: /s/ Stephen D. Aronson Name: Stephen D. Aronson Title: Vice President, General Counsel and Secretary Driven Equity LLC By: /s/ Stephen D. Aronson Name: Stephen D. Aronson Title: General Counsel and Secretary RC Driven Holdco LLC By: /s/ Stephen D. Aronson Name: Stephen D. Aronson Title: General Counsel and Secretary Roark Capital Partners III AIV LP By: /s/ Stephen D. Aronson Name: Stephen D. Aronson Title: Vice President, General Counsel and Secretary Roark Capital GenPar III LLC By: /s/ Stephen D. Aronson Name: Stephen D. Aronson Title: General Counsel and Secretary Neal K. Aronson /s/ Neal K. Aronson CUSIP No. 26210V102 SCHEDULE 13G Page 18 of 18 RC IV Cayman ICW Holdings SUB LLC By: /s/ Stephen D. Aronson Name: Stephen D. Aronson Title: Vice President, General Counsel and Secretary RC IV Cayman ICW Holdings LLC By: /s/ Stephen D. Aronson Name: Stephen D. Aronson Title: Director RC IV Cayman ICW Equity LLC By: /s/ Stephen D. Aronson Name: Stephen D. Aronson Title: Director Roark Capital Partners IV Cayman AIV LP By: /s/ Stephen D. Aronson Name: Stephen D. Aronson Title: Director Roark Capital GenPar IV Cayman AIV LP By: /s/ Stephen D. Aronson Name: Stephen D. Aronson Title: Director Roark Capital GenPar IV Cayman AIV Ltd. By: /s/ Stephen D. Aronson Name: Stephen D. Aronson Title: Director EXHIBIT 1 JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessi