News from the industry
BB&T Capital Markets, Richmond, VA, announced that it added a Boston-based investment banking team that is focused on the automotive aftermarket.
The division is an effort to provide investment banking services to aftermarket companies, allowing car-care owners the power of a nationally ranked corporate banking and capital operation for the market they work in.
BB&T Investment Banker Jonathan Carey told Professional Car Care Online that the services from the company may help car-care operators and owners raise capital for company growth, or prepare their company for public offerings.
Richmond-based BB&T Capital Markets is a division of Scott & Stringfellow Inc., a registered broker/dealer and wholly owned subsidiary of BB&T Corporation (NYSE: BBT).Car-care industry website up 42%, hits record 1M visits
Visitor traffic on Professional Car Care Online website (www.carwash.com) jumped more than 42 percent in 2004 over the same period last year, as user visits hit the 1 million mark for the year.
The record user visits to PCC Online make it the most popular Internet destination for car-care industry.
As of Dec. 31, PCC Online logged 1,043,252 total user visits during 2004, breaking 2003's record of 735,984.
Monthly user visits for December 2004 jumped from last year's 64,499, to this year's recorded 90,129. Average monthly unique user visits to the website were 25,468.
Unique user visits measure the number of individuals who visit a website during a measurable period of time. Each visitor is counted only once regardless of the number of times he/she returns to the site for repeated visits. Total user visits measure the number of times the website is visited and counts each visit by all users.
Professional Car Care Online is operated by Latham, NY-based NTP Media, Inc., which owns and operates the Professional Car Care B2B Trade Group, publisher of Professional Carwashing & Detailing magazine and Professional Car Care e-News.Delta Sonic parent shifts shopping center focus
Benderson Development Co., Buffalo, NY, the parent owners of the Delta Sonic Car Wash and self storage operations, sold a chunk of its shopping center portfolio to Cleveland's Developers Diversified Realty Corp. (NYSE: DDR) at the end of 2004.
This deal created a $2.3 billion offering — the largest in local history.
In the deal, Benderson sold 110 properties, including 52 in the immediate Buffalo Niagara region, to DDR. The sale changed the face of retail-related real estate in the area by bringing in a major player to compete against Benderson.
However, Benderson maintains a regional headquarters in Buffalo, where the company's Delta-Sonic Car Wash and self-storage operations remain. This area is manned by Ron Benderson, son of founder Nathan Benderson.
According to this year's Power Inc. Top 50 Carwash Report, Delta Sonic ranked number six, and recently donated $1.5 million to a Buffalo-based medial research institute.Wash chain acquires 18th location, changes direction
Splash Car Wash will open its 18th location in Darien, CT. The new wash is Splash's first attempt in the self-serve sector of carwashing. According to Mark Curtis, the company's CEO, Splash has experts on staffs that are familiar with the service offerings and are prepared to start business.
The newly acquired wash was previously owned by Ed Newman, who operated it as a full-service wash with four self-service bays. Newman added a second carwash tunnel, which has not been activated.
Splash will also be moving Splash University, its training facility, to the second floor of the building. Splash University was formerly housed in their Norwalk location and has been razed to make room for an oil change operation at that site.