LONDON, England — IMO, the world’s largest carwash company, has been sold to TDR Capital, a private equity group, two years after the original deal broke down, according to The Telegraph.
IMO was founded in 1954 in Germany, noted the article, and has grown to 834 washes across 13 countries. There are 323 German locations, 280 in the UK, with the rest spread across Europe and Australia.
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The article states about the original deal that fell through: “TDR was first in sale talks with [IMO] in 2012 but the deal broke down after the company’s owners — a collection of banks and hedge funds — rejected TDR’s offer.”
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