ATLANTA — Mammoth Holdings, LLC, an Atlanta-based conveyor carwash operator, announced that Busy Bee Car Wash, a three-unit carwash operator in Miami, Florida, will join the company, according to a press release.
Busy Bee’s owner, Jim Mulholland, chose to invest into Mammoth’s equity.
Dave Hoffmann, Mammoth’s chairman and CEO, said, “The Mulholland family has built a special legacy in the Miami market. Busy Bee has been a staple in its communities for over 50 years, and we are excited that Jim chose us to continue that legacy. Jim [Mulholland] is exactly the type of partner we seek to grow with — a high-integrity individual committed to operational excellence. Jim will become a vice president on Mammoth’s executive team where he will be focused on driving expansion in the greater Miami area.”
Mulholland stated, “It was very important to me to pick a partner that I trusted. I’ve known Jim Rooney, Gary Dennis and Marcus Kittrell for a long time, and I hit it off right away with Dave Hoffmann. Mammoth provided exactly the structure I was looking for … long-term upside and a partnership with the best people in the industry.”
Amplify Car Wash Advisors provided sell side advisory services on the transaction.
Mammoth is customer-focused operationally and operator-focused in its approach to partnerships and acquisitions, and seeks to be the partner of choice for carwash operators who desire liquidity, growth capital and a tax-deferred equity investment opportunity.
Mammoth’s multi-brand portfolio includes Marc-1, Wash Me Fast, Swifty, Ultra, Finish Line, Wiggy Wash, Shine On, Pit Stop, Lulu’s, Ollie’s, PureMagic and now Busy Bee, among others.
Mammoth has significant growth capital at its disposal and is actively seeking acquisitions and development opportunities.
In October 2018, Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm, which, through its partnership with Tom Pritzker’s family business interests (advised by The Pritzker Organization), provides the equity for Mammoth’s corporate development initiatives.
Monroe Capital provides Mammoth’s debt financing.
