Driven Brands Holdings is expanding its auto glass offering into the United States with the acquisition of Auto Glass Now (AGN) for $170 million. AGN provides auto glass repair, replacement and calibration services at over 75 locations cross the United States. It will be part of Driven Brands’ Paint, Collision and Glass segment.
“The automotive aftermarket is evolving, and we are incredibly bullish that glass services will be a key beneficiary of that evolution,” said Jonathan Fitzpatrick, president and CEO of Driven Brands. “The growth and highly fragmented nature of auto glass services makes our entrance into the U.S. market an ideal strategic investment for Driven Brands.”
Driven first entered the glass business in Canada in 2019 and serves retail, insurance and fleet customers. Driven now operates more than 300 glass locations in the United States and Canada.
Fiscal 2021 revenue for AGN is expected to be approximately $85 million. The business generates EBITDA margins of roughly 25%, according to Driven.